TRG, Cresta Buy in Koreatown
L.A's Koreatown continues to attract multifamily investors. A joint venture of Beverly Hills firm TRG Investments and Century City & Cresta Properties has bought a 49-unit, 36,925-square-foot Class C art deco apartment building and adjacent parking lot at 808 S. Hobart Blvd. for $8.4 million, or roughly $230 a square foot, from San Francisco's Virtu Investments. The property last sold in 2005 for only $4.9 million, or $133 a square foot.