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Tuesday, June 05, 2018

Canyon Partners Real Estate and Pasadena-based CIT Bank Buy Harvey Apartments in Hollywood | Los Angeles Business Journal

Canyon Partners Real Estate and Pasadena-based CIT Bank Buy Harvey Apartments in Hollywood | Los Angeles Business Journal: Century City-based investment firm Canyon Partners Real Estate and Pasadena-based CIT Bank have purchased the Harvey Apartments in Hollywood.

The purchase of the four-story, 177-unit apartment building that includes 1,900 square feet of ground retail space at 5640 Santa Monica Blvd. was consummated via the Canyon Multifamily Impact Fund III, a joint venture between Canyon and CIT Bank. CIT’s real estate finance business provided a $20.4 million senior loan to fund the purchase as well as capital improvements.