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Paladin buys Bellflower workforce housing asset for value-add upgrades

The 17-unit Brownstone Apartments property, built in 1967, will be modernized under Paladin’s value-added plan with debt financing from California Bank & Trust.

Reported · Written up by our desk · Industry

Paladin Realty Partners LLC has expanded its Southern California workforce rental housing portfolio with the acquisition of Brownstone Apartments, a 17-unit community in Bellflower, according to ConnectCRE.

The property, built in 1967, includes nine one-bedroom units, seven two-bedroom units, and one studio unit. Paladin said it plans to pursue a value-added business plan to modernize the asset while preserving affordable workforce housing in an infill location.

In connection with the deal, California Bank & Trust provided debt financing, while Bridgeport Investments served as Paladin’s financial advisor.

Trigor Group brokered the transaction, with Tracy Hong and Chris Keramati listed as the brokers.

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