Berkshire Group announced the purchase of One Santa Fe in Los Angeles, California. The 438-unit Class A apartment community located in the Arts District of Los Angeles will be managed by Berkshire Communities, the property management division of Berkshire Group.

“The purchase of One Santa Fe reflects our focus on purchasing quality multifamily properties in select markets across the country,” noted Eric Schrumpf, Senior Vice President, Multifamily Acquisitions, Berkshire Group. “The Arts District of Los Angeles offers a rich quality of life for residents drawn to the bustling restaurant, retail and nightlife scene in the immediate neighborhood in close proximity to the heart of downtown Los Angeles. With over 80,000 square feet of ground floor commercial and retail space, One Santa Fe offers numerous conveniences such as an organic grocer and dining options for both the residents and the neighborhood.”

Designed by renowned architect, Michael Maltzan, One Santa Fe has been featured in the Museum of Contemporary Art (MOCA) and the Los Angeles Times as a significant recent achievement in residential architecture. The property spans approximately one quarter of a mile over four city blocks and consists of two buildings situated around the retail paseo. One Santa Fe features a mezzanine level pool, a sixth-floor sundeck with a BBQ and dining area, a fitness center and private yoga/Pilates studio. The property also features three whirlpool spas, multiple BBQ and dining areas, a fully-equipped resident clubhouse, and an outdoor cinema equipped courtyard. Units feature stainless steel kitchen appliances, quartz countertops, European-style cabinets, central heat and air conditioning, and washer/dryers.

Continues to Strategically Invest in Portland Market

Berkshire Group announced the purchase of Cook Street Apartments in Portland, Oregon, from Seattle-based developer, Lake Union Partners. The 206-unit, Class A apartment community located in the Williams District of urban Portland will be managed by Berkshire Communities, the property management division of Berkshire Group. This transaction represents Berkshire Group’s second multifamily investment in urban Portland in 2016 following the Lower Burnside Lofts acquisition in February.

“In purchasing Cook Street Apartments, Berkshire is continuing its strategy of investing in quality properties in key markets,” noted Eric Schrumpf, Senior Vice President, Multifamily Acquisitions, Berkshire Group. “Urban Portland and the North Williams submarket offer a rich quality of life for residents drawn to the bustling restaurant, retail and nightlife scene in the immediate neighborhood in close proximity to the heart of downtown Portland.”

Cook Street Apartments amenities include a roof-top deck, yoga studio, fitness center, library, bike storage/repair studio, and a top floor resident lounge with a demonstration kitchen. The roof deck includes a sizable trellis, multiple fire pits, and two barbeques. Units feature stainless steel kitchen appliances, hard surface countertops, and washer/dryers. The property is located adjacent to the high-end, locally-based New Seasons Market that serves as the neighborhood’s anchor grocery store.

BOSTON-- Berkshire Group announced an affiliate of the company purchased a 264-unit Class A property in Fort Lauderdale, Florida, from The Related Group. Specific financial terms of the transactions were not disclosed. The property, which will be renamed Berkshire Lauderdale by the Sea, will be managed by Berkshire Communities, the property management subsidiary of Berkshire Group.

“The purchase of Berkshire Lauderdale by the Sea is indicative of our continued investment strategy in core properties in select target markets,” noted Jack Dent, Managing Director and Portfolio Manager at Berkshire Group. “Expanding into the Fort Lauderdale market also allows us to further diversify our portfolio.”

Completed in April 2015, the property features a fitness center, dedicated yoga area and treatment room, game room and club room. Apartment amenities include nine-foot ceilings, private balconies, granite countertops and stainless steel appliances.