(EDITOR’S NOTE: According to public records, the property was sold for $137.75 million, or about $688,750 per unit.)
SAN FRANCISCO – Stockbridge has acquired The Bahay, a 200-unit, Class A mixed-use apartment community in Los Angeles’ Historic Filipinotown (“HiFi”) neighborhood, an extension of the booming Echo Park submarket. Blake Rogers, Hunter Combs, Alexandra Caniglia and Javier Riviera with Walker & Dunlop handled the transaction on behalf of the seller.
Built in 2020, The Bahay features sophisticated, resort-style interior finishes and spacious floorplans, ranging in size from studio, one-bedroom and two-bedroom units. Residents benefit from over 35,000 square feet of shared amenity space and an additional 24,000 square feet of ground-level retail, including a Target, providing an inhouse grocery offering. Shared amenities include a state-of-the-art fitness studio, club lounge, pool, coworking space and outdoor lounge area.
“We are extremely pleased with the opportunity to expand our Los Angeles multifamily portfolio with the acquisition of The Bahay,” said Stockbridge Managing Director Mark Carlson.
“In addition to its strategic location within a supply constrained market, the superior quality of the asset, surrounding walkability and strong market fundamentals position the property for tremendous growth and long-term success.”
The Bahay is ideally located five minutes from Downtown Los Angeles (DTLA), the area’s most dominant employment hub, and only seven minutes from Hollywood, providing residents immediate access to top-tier employment opportunities.
In recent years, the HiFi neighborhood has transformed into a renter-friendly neighborhood with endless amenities, attracting a cohort of young professionals. Boasting a Walk Score of 87, the property is surrounded by world-class attractions, restaurants and retail destinations. Despite delivery of the project in the height of the Covid pandemic, The Bahay experienced a remarkably successful lease-up and continues to see steady leasing momentum.
