Acquisitions

SAN FRANCISCO — Chicago-based Waterton has expanded its presence in San Francisco with the acquisition of L Seven, a multifamily community at 1222 Hamilton St. in the city’s SoMa neighborhood. Terms of the transaction and the seller were not released, though many media outlets have reported that the previous owner was Brookfield Properties. Built in 2017, L Seven offers 410 studio, one- and two-bedroom apartments, as well as two-story townhomes and loft-like penthouse residences. Apartments feature modern finishes, and, in select residences, floor-to-ceiling windows, private balconies, in-unit washers/dryers and direct-access garages. The community offers 31,000 square feet of ground-floor commercial space, a rooftop amenity deck with a beer garden, grilling stations and a fire pit. L Seven also features a resident lounge and coworking space that Waterton will upgrade with various nooks and areas for increased privacy for remote workers. Additionally, Waterton will institute a light value-add program focused on enhancing underutilized amenity spaces while prolonging the life of the asset.

LOS ANGELES — GPI Cos. has acquired The Lofts at NoHo Commons, a Class A multifamily property in the North Hollywood neighborhood of Los Angeles. Terms of the transaction were not released. The transit-oriented, mixed-used property was originally built in 2006 and extensively renovated in 2017. The Lofts at NoHo Commons’ 292 apartments offer 11-foot to 14-foot ceilings and open floorplates. Community amenities include outdoor space, open-air corridors and a large amenity deck. GPI Cos. has tapped South Carolina-based Greystar to manage the property.