4D In The News today :

4D Development
4D Founder and President David Pourbaba says the project has been successful overall , but challenges are inevitable. "We had a shortage of skilled laborers and the expenses keep on skyrocketing," he states.

Reaching the Sky
Los Angeles-based real estate developer 4D Development only works on two to three projects a year. But once construction starts, the projects create a buzz. One example is its work on Sky Las Vegas, a 1.2 million-square-foot high-rise condominium on the Las Vegas Strip. Once complete at the end of the year, the condo will house more than 400 units that range from 870 to 5,500 square feet in its 45-story building and 45,000 square feet of retail......

Sale of the six-property
Janet Neman of Hendricks Partners' West Los Angeles office has completed the sale of the six-property, 243-unit Los Angeles Portfolio on August 31st, 2007 for $22,150,000. The apartment portfolio consisted of distinctive 1920's character buildings located in the Mid-Wilshire District of Los Angeles, CA at 112 Occidental, 1310 Wilton, 3051 Leeward, 920 Hobart, 923 Irolo and 744 South Catalina....

Central Village Promise
Councilwoman Jan Perry joined The developers to break ground today on an exciting new mixed-use development in South Los Angeles Central Village. The development will combine housing with ground-floor retail, bringing much-needed amenities to the Central Avenue corridor...

4D Development Wins Notes on 199 Units
LOS ANGELES-The locally based development and investment firm is one of 29 bidders on the notes secured by 199 apartment units in Koreatown..

Read More..

A 199- unit apartment portfolio in Koreatown traded hands for $17 million this month. 
Vista Investment Group LLC, a private L.A real estate investment company, bought the four-building portfolio from 4D Development & Investment a real estate investment and development company also in Los Angeles that purchased them last year.

Read More..

SOLD - $9,850,000 - 157 UNIT MULTIFAMILY PROPERTY. 
Century City, CA - Pegasus Investments, a Los Angeles-based investment real estate brokerage & advisory firm, is proud to announce the recent closing of a 157 unit multifamily property. The project was a portolio of Co-Op units in Sun Valley, California (San Fernando Valley, Los Angeles County) and closed escrow at $9,850,000.

The highly complex transaction included eight adjacent multifamily buildings constructed in the 1960's and 1970's, that had been converted to a Cooperative Stock ownership structure. The sale included 157 units that were being operated as rental housing.

"This property was truly a unique asset that required a very sophisticated buyer to understand and capitalize on its complexities," said David Chasin, Executive VP of Pegasus Investments and lead advisor alongside company President, Ken Chasin. "We had a tremendous amount of interest and offers on the property," Chasin added, "The challenging part was choosing the right buyer who had the ability to work through the financing issues to get the deal closed."

The buyer of the property was David Pourbaba of 4D Development & Investments who was represented by Avi Hakim of Wilshire Management. 4D is a value-added investment and development company which specializes in complex assets and opportunities throughout the Western US. "This was a complex transaction, and the value added aspect made this a good buy for our company," said David Pourbaba, CEO of 4D.

The sale represents the third major multifamily sale for Pegasus Investments since late 2011, totalling nearly 250 units.

xxxxx
xxxx

Another Day, Another South Park Housing Project.
West Hollywood Developer Working on $30 Million ‘E. On Grand’

The surge has overshadowed several projects rising to the east, including a $30 million apartment building from a local developer making its first foray into the Downtown Los Angeles market.

West Hollywood-based 4D Development began construction on a seven-story apartment building dubbed “E. On Grand,” at 1249 S. Grand Ave., in January. The 115-unit project, located three blocks east of the Los Angeles Convention Center, is on track to be completed in October 2016, said company President and CEO David Pourbaba. “We looked at a lot of parcels in Downtown, but what struck us about this lot is it’s close to both the amenities and the freeway,” Pourbaba said. “There’s a lot of traffic when there’s a major event around there. So you gotta be careful where you live if you want access.”

The building will have studios and one- and two-bedroom apartments averaging about 600 square feet, with monthly rents of approximately $3.50 per square foot. Amenities will include a pool, sun deck, recreation room and gym. The ground floor will hold about 5,000 square feet of retail/commercial space and the building will contain about 120 parking spaces.

Pourbaba said that E. On Grand will be marketed as a “boutique” destination because the complex is smaller than many other upcoming apartment buildings in South Park, which generally feature 200 or more units.

The design, from local firm AFCO Design Inc., is similar to some of the other mid-rise developments that have popped up in Downtown. Early renderings show an articulated facade with glass balconies on every unit and colored accent panels.

4D Development was founded in 1981 and has created projects in Southern California, Nevada, Arizona and Texas. Pourbaba said the construction costs in Los Angeles make mid-rise buildings more feasible than towers (the company has built high-rises elsewhere) but noted that Downtown L.A. is the hottest market 4D is investing in, with room for growth. “Comparing Downtown L.A. with other metro areas, there’s a very low percentage of people who work there who also live there,” he said. “The jobs are there, and the amenities are there. That’s a good thing.”

Mixed-Use Development Revealed in West Adams.
Low-rise building would add residents to commercial stretch of Adams Boulevard.

The mixed-use development wave is about to make landfall in West Adams.

4D Development & Investment, a California-based real estate firm, filed plans with the City of Los Angeles earlier this year to construct a residential-retail complex on an approximately one-acre property at 5163-5189 West Adams Boulevard. The project, referred to as Rise on Adams, would consist of a low-rise structure featuring 72 apartments, 33,800 square feet of ground-level commercial floor area and two levels of underground parking.

An architectural rendering displayed on the listing service LoopNet portrays the project four-story building wrapped with exterior balconies. Potential ground-floor occupants include retailers, a gymnasium and medical offices.

According to the listing, completion of the low-rise building is scheduled for late 2016.

4D Development is also in the midst of construction on a similar mixed-use complex at the intersection of Pico Boulevard and Grand Avenue in Downtown Los Angeles.

5169 W Adams Blvd (LoopNet)

4D Properties :

Contact

Telephone: 323-951-0242
jerene@4ddevelopment.us
8271 Melrose Ave., Suite 200,
Los Angeles, CA 90046