REBusinessOnline

JOINT VENTURE ACQUIRES 140-UNIT REDWOOD LOFTS

MARINA DEL REY, CALIF. – Through a strategic alliance with Phoenix-based Alliance Residential, Behringer Harvard has acquired the 140-unit Redwood Lofts located at 4055 Redwood Avenue in Marina del Rey. The new development consists of four four-story buildings situated on a 2.6-acre site 15 miles west of Los Angeles’ city center. The acquisition of Redwood Lofts was made through a joint venture of Behringer Harvard Multifamily REIT I Inc. and PGGM Private Real Estate Fund, a vehicle for real estate investments for large Dutch pension funds. Behringer Harvard plans to rebrand the multifamily community to Forty55 Lofts.

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