Christ Unity Manor High-Rise Senior Housing Project Sold to Vitus Group for $22.5 Million, Colliers Reports


“This was the perfect storm for the right buyer,” said Gould, the lead member of the Colliers team that represented both parties to the transaction. “This project provided an opportunity for the right buyer to keep HUD-subsidized rents on the property at about the same level they are now and still maximize its investment through the extension of the HUD contracts, tax incentives, building upgrades, and other inducements.”
Link to PDF Article

Colliers Closes $22 Million Sale of Christ Unity Manor Senior Housing Project in L.A.’s Mid-Wilshire District


“What was most critical to the church was ensuring the preservation of the senior affordable housing on the property,” Jeff Gould, Colliers International VP, tells GlobeSt.com. Gould represented the seller in the transaction along with his Collier’s colleagues VP David Casper, SVP Mark Tarcynski and VP Adam Ticsher.
Link to PDF Article

Christ Unity Manor High-Rise in Koreatown Sells for $22.5 Million


“’This was the perfect storm for the right buyer,” said Gould, the lead member of the Colliers team that represented both parties to the transaction. “This project provided an opportunity for the right buyer to keep HUD-subsidized rents on the property at about the same level they are now and still maximize its investment through the extension of the HUD contracts, tax incentives, building upgrades, and other inducements.’”
Link to the press release

Outcome