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280-unit community is company’s first acquisition in the market
Charlotte, NC, June 18, 2025 – Grubb Properties today announced the purchase of a multifamily property in the Hollywood submarket of Los Angeles. The transaction marks the company’s first acquisition of an existing community in the market, adding to its nationwide portfolio.
The seven-story building, known as The Fifty Five Fifty Apartments (5550 Hollywood Boulevard), comprises 280 studio, one-, two- and three-bedroom floor plans with an average unit size of 739 sq. ft. Amenities include an oversized fitness center and yoga studio, resort-style pool, two outdoor courtyards, a resident lounge and co-working spaces. Unit amenities include washer and dryers, stainless steel appliances, quartz countertops, and expansive windows with downtown views. The property also includes 12,022 sq. ft. of ground-floor retail.
Built in 2018, the multifamily community is well located with direct access to the Los Angeles Metro Rail and is three blocks from the Pacific Coast Highway (US Highway 101). It provides convenient access to neighborhood dining, retail, and entertainment; several top entertainment employers including Netflix and Viacom; and world-class healthcare campuses including Children’s Hospital Los Angeles, Kaiser Permanente, and CHA Hollywood Presbyterian Medical Center.
PCCP partnered with Grubb Properties on the acquisition. Cushman and Wakefield represented the seller and led the team that arranged acquisition financing. Walton Street Capital originated the loan to PCCP and Grubb Properties.
“The Fifty Five Fifty Apartments is a high-quality property that addresses the unmet demand for well-designed, well-located, amenity-rich apartments offering exceptional values for renters in the middle of the income spectrum,” said Clay Grubb, CEO, Grubb Properties. “The acquisition is an excellent buying opportunity to realize significant upside that required the expertise of talented internal and third-party teams. We are particularly pleased to continue our longstanding partnership with PCCP.”
About Grubb Properties
Grubb Properties, founded in 1963, is a vertically integrated real estate company focused on the Essential Housing space through its Link Apartments℠ brand. The company targets residents in the middle of the income spectrum, directly addressing a growing crisis for essential housing, while providing residents with exceptional living spaces. Grubb Properties maintains a long-term perspective and its careful and measured approach to real estate investment has delivered resilient and impressive returns. Grubb Properties has received numerous sustainability designations and recognitions and undergoes annual ESG assessments through GRESB. For more information, visit www.grubbproperties.com. Grubb Properties’ CEO Clay Grubb is the author of the book “Creating the Urban Dream: Tackling the Affordable Housing Crisis with Compassion.”
Contact:
Emily Ethridge, senior director, corporate communications
eethridge@grubbproperties.com
(704) 405-5148
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