Chitaka Buys Apartments
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Chitaka International of America has purchased The Enclave apartment complex at 7917 Selma Ave., Hollywood, for $7.4 million. The 74-unit project was completed last year.
The sellers were a partnership of Harlon West and JMB Development Co., according to Bank of America’s Investment Real Estate Group, advisers to Chitaka on the purchase. Chitaka, a subsidiary of Chitaka International Foods Co. of Japan, also owns the Benihana of Tokyo restaurant in Beverly Hills.
The purchase of the complex indicates that Japanese investors are expanding beyond downtown office buildings, according to Jack S. Cooper, vice president and managing director of the bank’s real estate group.
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