Goldrich Kest Acquires New Luxury Property — The Highland Residences — For $52 Million
Lower Floor Retail and Five Stories of Studios - 3 Bedroom Apartments In Center of Hollywood
[USPRwire, Wed Aug 01 2018] Goldrich Kest, a Culver City company that is considered one of California’s finest and most successful real estate builders and property managers, has acquired the mixed-use space The Highland Residences for $52 million. Located on the corner of Highland and De Longpre Avenues in one of Hollywood’s most highly desirable neighborhoods, the six-story property offers two ground floor retail spaces now available for lease as well as 76 apartments ranging from 537-square-feet studios to three-bedroom units boasting 1387 square feet. Rent range from $2,400 to $5,250.
The Highland Residences was built by the award-winning Lennar Corporation and offers a number of amenities including a fitness and training center, office space to conduct business, secured parking and a rooftop deck overlooking Hollywood and downtown LA complete with swimming pool, private lounge area, large fireplace, several grills and even a pet park.
The units themselves offer designer kitchens with high-end stainless steel appliances, modern cabinetry, deluxe fixtures, quartz countertops and full backsplashes. The sleek baths also offer deluxe fixtures, modern cabinetry and quartz countertops as well as glass-enclosed showers, many with spectacular views. First floor apartments boast concrete floors while upper floors are adorned in mahogany stained laminate and all units come with spacious closets, in-home washers and dryers and Lutron smart shades, lights and temperature controls.
The Highland has a walkability score of 94 thanks to its proximity to public transportation and nearby restaurants, trendy shopping outlets, theaters, nightclubs, tourist attractions and parks.
“We are delighted to announce the latest addition to our ever-expanding portfolio, The Highland Residences,” announced Goldrich Kest President Carole Glodney. “Hollywood is one of Southern California’s most vibrant cities and this property is right in the center of the action. You really don’t need a car as everything you could possibly desire is right outside your door.”
Recognized as one of the nation’s most successful real estate companies, Goldrich Kest is a privately owned family-run business that can trace its origins back more than 60 years to two entrepreneurs, Jona Goldrich and Sol Kest, who parlayed their meager savings into an empire. Today, their descendants, known within the company as “G2: The Next Generation,” continue to build upon the eponymous company’s ever-expanding portfolio of residential, commercial, industrial and retail projects. Among them are 120 apartment buildings with 13,188 units, 5 marinas with 2,139 slips, 24 senior living facilities with 4,248 beds, and, scattered throughout the US, more than 11 million square feet of non-residential space. Dozens of their apartment buildings accommodate low-income families and Goldrich Kest offers free after-school and summer programs to keep its young residents engaged and eager to learn. For more information about the company, visit goldrichkest.com.