Ness Holdings, Inc.,
a privately-funded real estate investment and development firm, announced via press release Tuesday the purchase of a four-tenant retail property located in
the Hollywood area as well as a portfolio of multi-family buildings
located throughout Los Angeles.
The retail property located at 7300 Melrose – the corner of Melrose and Poinsettia – includes Floyd’s 99 Barbershop and The Darkroom. It was an off-market deal for $3.85 million.
“Melrose is on the upswing and should continue to see growth in rental rates and retail demand,” Ness Holdings, Inc. Director, Daniel Mense said in a written statement. “Melrose is going through significant changes to improve its identity and image to attract a stronger tenant mix and customer demographic. Our plan to reposition this property coincides with these changes.”
Additionally, Ness Holdings, Inc. led a consortium of investors in the acquisition of a portfolio of multi-family buildings located throughout the Los Angeles area, valued at approximately $11 million.