Los Angeles — Mack Urban Real Estate Group and AECOM Capital have acquired six acres in the Los Angeles central business district. The $80 million transaction is the largest land acquisition in the CBD since before the recession. The seller was EVOQ Properties.
The acquisition is part of a Mack Urban and AECOM plan to build a portfolio of class A, institutional quality multifamily developments in West Coast gateway cities.
South Park ranks among L.A.’s premier residential neighborhoods. The immediate neighborhood encompasses 32 square blocks of residential properties and includes retail and entertainment venues such as the Staples Center and L.A. Live.