Developer Buys Second Hollywood Apartment Complex

The Lighthouse Group, headed by CEO Gary Leshgold, has made another big real estate purchase in Hollywood. The Pacific Palisades-based firm recently acquired a 218-unit apartment complex at 1714 North McCadden Place for $73.9 million, or $338,991 per unit. This marks the company's second Hollywood purchase this year, with the previous being a 27-unit property on Sunset Boulevard.

The property was sold by an entity connected to New York Life Real Estate Investors, with the deed being signed by Erik Pentland. This sale comes at a 27 percent discount from the property's previous trade, making it a lucrative deal for the Lighthouse Group. When asked about the purchase, Leshgold confirmed the deal while New York Life declined to comment.

The acquisition was made possible by a $52 million loan provided by Keybank. The deal was brokered by Cushman & Wakefield, a prominent real estate firm that often handles high-profile transactions. After the purchase, Leshgold rebranded the property as Fusion Encore Hollywood, adding to his growing portfolio in the area.

This deal is just the latest in a string of successful acquisitions made by the Lighthouse Group, showing their dominance in the Hollywood real estate market. As the company continues to grow and expand, it's clear that they will remain a major player in the industry for years to come.

https://therealdeal.com/la/2025/08/28/lighthouse-group-buys-another-hollywood-apartment-complex/