GPI Companies Acquires the Lofts at NoHo Commons

GPI Companies acquired the Lofts at NoHo Commons, a 292-unit Class A apartment building in North Hollywood, for $92.5 million, or $317,000 per unit. The transit-oriented, mixed-use project was originally built in 2006 and renovated in 2017. Greystar will manage the property on behalf of GPI.

The building, located at 11179 Weddington St., was an early mixed-use development near the Metro. It features abundant outdoor space, an amenity deck and open-air walkways. Units were built with high ceilings that range from 11-14 feet to provide a loft-style feel. It is comprised mainly of studio apartments, although the average apartment size is more than 1,000 square feet.

The building has a bold exterior design that was inspired by the artwork of French artist Thierry Noir on the building’s west and south facades that spans 300 feet.