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CMCT - CMCT acquires parcel for apartment development in Los Angeles
Creative Media & Community Trust Corporation
CMCT (CMCT -3.0%) has acquired 3101 S. Western Ave., a 0.26-acre parcel in Los Angeles’ Jefferson Park submarket, for $2.3M. Company intends to build a five-story apartment building with approximately 45 apartment residences offering a mix of studio, one-, and two-bedroom floor plans. Construction is anticipated to begin in late 2023 or 2024.