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Vanbarton Group buys Los Angeles multifamily property for $148M

Vanbarton Group LLC acquired the Fifty Five Fifty multifamily complex in Los Angeles' Hollywood neighborhood for $148 million, The Real Deal reported.

The 5550 Hollywood Blvd. property, featuring 280 residential units and 12,000 square feet of retail space, was sold by multifamily developer Wood Partners.

The class A property, completed by Wood Partners in April, also has 437 parking spaces and a number of amenities, the Oct. 12 report added.

Vanbarton has acquired two other commercial properties in Hollywood since 2017.