Asana Partners Purchases Mixed-Use Portfolio in Los Angeles for $23.2M
LOS ANGELES — Charlotte, N.C.-based Asana Partners has purchased The Fig Collection @ Highland Park, a three-property mixed-use portfolio in Los Angeles’ Highland Park submarket. Engine Real Estate, a Los Angeles-based private investor, sold the asset for $23.2 million.
The portfolio includes:
- A two-building multifamily and retail property located at 5900 N. Figueroa St. and 111 S. Avenue 59. The property at 5900 N. Figueroa St. includes 12 studio and one-bedroom apartment units and 11,305 square feet of ground-floor retail space, which is 86 percent leased. Mr. Holmes Bakehouse occupies the 4,167-square-foot building located at 111 S. Avenue 59.
- A single-story, 2,250-square-foot building located at 5711 N. Figueroa St. The property is fully occupied by Sonomama, a high-end gift and apothecary shop; and Afters Ice Cream, an ice cream shop with outposts across Southern California.
- A two-story, 22,500-square-foot property, located at 5715-5717 N. Figueroa St. Recently renovated, the property features retail and commercial office space, which is fully occupied. Tenants include LemonTree, an audio production facility and recording studio; Blind Barber, a barber shop with a speakeasy bar; Chops Market, a deli; Otono Restaurant; Pacific Union, a luxury residential real estate brokerage firm; and Arrive Enterprises.
Dana Brody of JLL represented the seller, while Geoff Tranchina of JLL represented the buyer in the transaction.