REBusinessOnline

15 UNITS AT DOWNTOWN L.A. ADAPTIVE-REUSE CONDO PROPERTY FETCH $3.2 MILLION

LOS ANGELES — Grubb & Ellis has brokered the $3.2 million sale of 15 units within the 40-unit Pan American Lofts, located at 253 S. Broadway in downtown Los Angeles. Originally constructed in 1894, the building was converted to condominiums in 2007. Grubb & Ellis’ Richard Plummer, Michael Ross and Andrew Harper represented the seller, Phoenix Realty Group, in the multifamily transaction; the buyer, Pacifica Enterprises, represented itself.

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