
Waterton, a national real estate investor and operator, announced it has acquired the AMLI Warner Center apartments, a 522-unit wrap-style community in Woodland Hills, California.
Built in 2007, the relative low density and physical condition of the complex makes it well-suited for Waterton’s value add program and brings Waterton’s holdings in the Los Angeles area to 3,316 units.
“We’re excited to welcome The Kitt at Warner Center into our portfolio,” said Kol Rath, vice president, acquisitions at Waterton. “The physical condition of the community presents an opportunity to execute a value add program within the residences and common areas allowing The Kitt at Warner Center to better compete with newer product in the market.”
Floorplans at The Kitt at Warner Center include one-, two- and three-bedroom apartment homes. Only a small percentage of rental units have been updated, leaving ample opportunity to upgrade residences to a modern finish. Renovation plans for residences include new stainless-steel appliances, quartz countertops, new cabinet fronts and hardware in kitchens and baths, as well as updated lighting and plumbing fixtures, backsplash, paint and vinyl plank flooring.
Amenities at The Kitt at Warner Center include a resort-style pool and spa; grilling stations with picnic tables; a fire pit and outdoor fireplace; a dog park and pet washing station; a jogging path with a six-station exercise par course and a well-equipped fitness center; and two structured parking garages. Common areas will be reconfigured to maximize use of the space and enhance the resident experience while plans also include updating the exterior paint to reflect a more contemporary color scheme.
Situated in the Warner Center master planned community, The Kitt at Warner Center is proximate to Route 101 and the De Soto / Kittridge Metro Orange Line station for convenient access to job nodes in and beyond the San Fernando Valley. The location at Warner Center provides residents with convenient access to live/work/play options including Topanga Village, Westfield Topanga mall, the 1.1 million-square-foot Warner Center Business Park, the 1.8 million-square-foot Warner Center Plaza office complex and Kaiser Permanente Hospital. Also nearby, the proposed 52-acre Rams Village at Warner Center is slated to include a mix of uses ranging from retail, dining and office spaces to indoor and outdoor entertainment venues, as well as the permanent headquarters and practice facility for the Los Angeles Rams.