CPP buys Westlake workforce housing for $48M with eye on upgrades

Community Preservation Partners has acquired the Witmer Manor workforce housing complex in Los Angeles for $48.4 million. The complex at 1501 Miramar Street in the Westlake neighborhood consists of 142 studios and 96 one-bedroom units, according to a press release from CPP. The company plans to invest about $64,000 per unit in upgrades, bringing its […]This article originally appeared on The Real Deal. Click here to read the full story.