WOODLAND HILLS, CALIF. — Waterton, a Chicago-based multifamily and hospitality investor and property manager, has acquired AMLI Warner Center in Woodland Hills. Terms of the deal were not disclosed. The property was developed in 2007 by AMLI Residential.
The gated community, located at 21200 Kittridge St. in the San Fernando Valley, will be rebranded as The Kitt at Warner Center. Floorplans include one-, two- and three-bedroom homes. A small percentage of units have been updated, and Waterton plans to upgrade remaining units with new stainless-steel appliances, quartz countertops, new cabinet fronts and hardware in kitchens and baths and updated lighting and plumbing fixtures, backsplashes, paint and vinyl plank flooring.
Amenities include a resort-style pool and hot tub, grilling stations with picnic tables, a fire pit and outdoor fireplace, a dog park and pet washing station, a fitness center, jogging path with a six-station exercise course and a fitness center. Common areas will also be updated during Waterton’s hold period. With this value-add acquisition, the company’s portfolio in the Los Angeles area totals 3,316 units.