Waterton has acquired OLiVE DTLA , a seven-story mid-rise rental community located at 1243 South Olive St. in downtown Los Angeles. Originally built in 2017, the property features 293 apartment homes and offers studio, one- and two-bedroom floor plans. OLiVE DTLA offers residents a robust suite of amenities and a contemporary rental experience punctuated by Waterton’s proprietary operating philosophy, known as Resitality, which combines best practices in multifamily and hospitality service standards.
The financial terms and the seller were not disclosed.
“OLiVE DTLA is a well-designed, well-amenitized community in the desirable South Park neighborhood of DTLA,” said Peter Kuzma, senior vice president, acquisitions at Waterton. “We believe the diversified economy and business presence will continue to attract an affluent and educated renter base, and the community will provide that sought-after ‘live-work-play’ rental experience when COVID-19 vaccines allow
