Los Angeles—California Landmark Group (CLG) has acquired two mid-century apartment buildings in Northeast Los Angeles for a total of $7.5 million. The investor says it plans to reposition the properties to cater to the housing needs of young professionals moving into the area.
The buildings, which mark the firm’s entry into the Northeast Los Angeles submarket, are three miles from each one in the Arroyo Seco neighborhoods of Highland Park and Eagle Rock. They were acquired from a private investor who had owned the properties for several decades.