Mosser Capital announced the acquisition of multifamily workforce housing properties throughout San Francisco, Oakland and Los Angeles.
The transactions total more than 300,000 square feet and represent an approximate $150 million investment Mosser is directing into urban workforce housing that will offer affordable rental units and help post-COVID revitalization efforts in underserved communities.
The properties include mixed-use apartments with ground-floor retail spaces in historic and culturally vibrant neighborhoods. One of the properties includes the Wilshire Royale apartments, a 193-unit property built in 1927 featuring neoclassical architecture, one of a few examples of the architectural style remaining in Los Angeles. Located in the Westlake District, the building includes 8,933 square feet of ground-floor retail space, which was renovated by its former owner in 2017 using historic photos as a guide.
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