For Immediate Release
Fifteen Group Announces Completion of Phase I at 29 Twenty
August 1st, 2016 11:00 AM Eastern Daylight Time
LOS ANGELES – Fifteen Group has successfully completed the first phase of construction at its 29 Twenty development project in the Silver Lake neighborhood of Los Angeles. A total of 8 units have closed, and an additional 14 units are under contract. Sale prices range from approximately $720,000 for a 1,309 SF two-bedroom unit to over $1.0 million for a larger 2,175 SF three-bedroom unit. Phase II is currently under construction, and project completion is anticipated in March 2017.
Developed in a joint venture with Van Daele Homes, 29 Twenty is a stylish development of 33 modern three-story townhomes with attached garages. Two and three-bedroom tri-level townhomes have been designed to include attached garages, bedroom suites, and roof decks with views.
The project is situated on Rowena Avenue in the heart of Silver Lake, which is a diverse and highly desirable neighborhood known for its architecture, unique local eateries and convenient access to Downtown Los Angeles and Hollywood. Silver Lake was identified by Fifteen Group as an emerging neighborhood in 2010. The site was acquired in 2011, and a partnership was subsequently formed with Van Daele Homes as builder. The project highlights Fifteen Group’s appetite for well‐located, opportunistic transactions in high barrier‐to‐entry submarkets of Greater Los Angeles.
About Fifteen Group
Fifteen Group is a family-owned real estate investment firm based in Miami, Florida. Fifteen Group's investment activities are opportunity-driven, value-added acquisition and development projects. Historically, Fifteen Group concentrated primarily on the multifamily sector, but has evolved to include expertise in the office, retail, mixed-use, industrial, land and residential development sectors. Currently the firm invests in all major real estate asset classes, in real estate secured debt, and in corporate private equity transactions.
Fifteen Group Capital LLC
Jesse Biegel, 213-282-2044