Creative Media & Community Trust Corporation (CMCT) announced the closing of a 49% co-investment in a 75-unit apartment community located at 1902 Park Avenue in Los Angeles. This transaction marks a concrete step in the company's strategic shift.
The investment in this premier multifamily property aligns with CMCT's accelerated focus on expanding its multifamily asset portfolio. This move is part of a broader strategy to enhance the company's asset composition.
The acquisition of a significant stake in this Los Angeles apartment community is expected to contribute to CMCT's long-term growth objectives within the multifamily segment. It underscores the company's commitment to investing in vibrant metropolitan communities.
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