CMCT to grow multifamily portfolio by adding 3 multifamily assets

CMCT has expanded its multifamily portfolio with the planned addition of 696 apartment units across three assets. The acquisitions advance CMCT’s strategy to focus the portfolio on highly amenitized premier multifamily office assets in dynamic, high barrier-to-entry markets.

CMCT intends to acquire an interest in the 75-unit Parkview Apartments at 1902 Park Ave. in the Echo Park neighborhood of Los Angeles. The transaction is anticipated to close in mid-February. Parkview Apartments is located adjacent to 1910 W. Sunset Blvd., an eight-story creative office property that was acquired by CMCT in February 2022.

In Oakland, CMCT is under contract to acquire Eleven Fifty Clay, at 1150 Clay St., a 16-story apartment building offering 288 market-rate residences. The acquisition is anticipated to close in late March. On Jan. 31, 2023, CMCT closed on the acquisition of Channel House, a 333-unit, eight-story apartment building at 40 Harrison St.

CMCT believes it has an