BLT Enterprises Sells Apartment Development Site in Los Angeles for $13.7M
LOS ANGELES — Santa Monica-based BLT Enterprises has completed the sale of a former gas station and parking lot in Los Angeles. Wiseman Residential acquired the fully entitled property for $13.7 million.
BLT, in partnership with KFA architects, Dale Goldsmith as land-use counsel and other consultants, obtained entitlements through the City of Los Angeles’ Transit Oriented Communities ordinance for a six-story, 119-unit apartment building at the site.
Located at 11261 Santa Monica Blvd., the property will feature 17 affordable housing units, a variety of floor plans, a gym, outdoor patios and barbecues, as well as open space and community gathering areas.
Anthony Muhlstein and Brian Bowis of Newmark Knight Frank represented BLT Enterprises, while Wiseman Residential was self-represented in the deal.