'Old World' offering.Sebren Holdings LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , an L.A. investment group, has listed a 12-property portfolio of 1920s-era apartment buildings. The buildings, which have been partly remodeled, contain 502 units and are located in Hollywood, Koreatown and Echo Park. Sebren is asking $53.5 million, which breaks down to $96,000 per unit and $5 million for the portfolio's 22,000 square feet of ground floor retail. Sebren, through its development unit, accumulated ac·cu·mu·late v. ac·cu·mu·lat·ed, ac·cu·mu·lat·ing, ac·cu·mu·lates v.tr. To gather or pile up; amass. See Synonyms at gather. v.intr. To mount up; increase. the portfolio over the last three years and renovated units as they turned-over. Currently, more than 40 percent of the apartment units have been renovated. "These are what we call 'Old World' apartment communities," said Darin Beebower at Madison Partners, which has the listing. "Two properties are historic, cultural monuments MONUMENTS. Permanent landmarks established for the purpose of ascertaining boundaries. 2. Monuments may be either natural or artificial objects, as rivers, known streams, springs, or marked trees. 7 Wheat. R. 10; 6 Wheat. R. 582; 9 Cranch, 173; 6 Pet. 498; Pet. , and all the properties have substantial architectural detail." In most cases, Sebren restored the units to preserve hardwood hardwood: see wood. hardwood Timber obtained from broad-leaved, flower-bearing trees. Hardwood trees are deciduous trees, except in the warmest regions. floors, exposed brick walls, crown moldings Crown molding encapsulates a large family of moldings which are designed to gracefully flare out to a finished top edge; generally used for capping walls, pilasters, cabinets; used extensively in the creation of interior and exterior cornice assemblies and door and window hoods. and in some cases installed pedestal pedestal In Classical architecture, a support or base for a column, statue, vase, or obelisk. It may be square, octagonal, or circular. A single pedestal may also support a group of columns, or colonnade (see podium). sinks. Sebren also has renovated the buildings' lobbies. "What you are left with is a hip, urban riving environment reminiscent of loft apartments," Beebower said. "The buildings are in various stages of renovation, but the vast majority of the work is done." Beebower said there's no chance to convert the apartment buildings into condominiums, a practice that has recently come under fire politically. He said the apartments couldn't meet the parking requirements needed for conversion. Staff reporter Andy Firmer can be reached by e-mail at afirmer@labusinessjournal.com or by phone at (323) 549-5225, ext. 263. |
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