LOS ANGELES — September 18, 2026 — Decron Properties, a Los Angeles-based real estate investment and management firm, has acquired 5550 Wilshire, a 163-unit mixed-use apartment community in Los Angeles’ Miracle Mile for $114 million. The acquisition marks Decron’s first purchase in nearly two years and reflects the firm’s ability to deploy capital selectively when an asset offers an attractive basis, durable cash flow, and compelling long-term value.
Decron acquired the property at a substantial discount to replacement cost and with in-place income that generates positive leverage from day one. Together, those attributes provide Decron with an attractive cash flow while preserving multiple paths to create value over time.
“We remain active, well capitalized and highly disciplined about where we invest,” said Decron President and CEO David Nagel. “5550 Wilshire offered a combination that is increasingly difficult to find: irreplaceable real estate in a supply-constrained market, a basis well below replacement cost, and immediate cash flow with positive leverage. It is exactly the kind of opportunity for which we have maintained the capacity to act.”
The acquisition reflects the breadth of Decron’s investment strategy. The firm continues to pursue opportunities in high-growth markets such as Phoenix, Salt Lake City and Austin, while remaining engaged in established West Coast markets—including Los Angeles, San Jose , Orange County, San Diego and Seattle —where high barriers to entry, constrained housing supply and durable demand can create compelling long-term investment opportunities.
“Our growth-market strategy has never been a referendum on Los Angeles,” Nagel said. “For a period, the risk adjusted returns here simply weren’t competitive with what we were finding in the Sun Belt markets. We continue to see attractive long-term fundamentals in markets outside California, but Los Angeles remains one of the nation’s most important and chronically undersupplied housing markets. New supply is exceptionally difficult and expensive to deliver. When an asset of this quality becomes available at the right basis and yield, being local, experienced and well capitalized matters.”
Developed in 2010 to luxury condominium specifications, 5550 Wilshire offers one-, two- and three-bedroom apartments and townhomes with floor plans approximately 33% larger than the submarket average. Amenities include a resort-style pool and spa, resident lounge, private movie theater and rooftop skyline lounges. The property also has parking for 484 vehicles, an unusually strong ratio serving both its residential and retail uses.
The property includes 14,686 square feet of ground-floor retail space that is fully leased to national credit tenants including Chipotle, Five Guys and FedEx Office. These retail uses complement the residential component and contribute to the property’s diversified income stream.
Located less than a mile from Decron’s headquarters, 5550 Wilshire sits in a submarket the firm has known and operated in for decades. The property has a Walk Score of 95 and is within walking distance of the Wilshire/Fairfax station on Metro’s D Line extension, connecting residents to major employment, cultural and entertainment destinations across Downtown Los Angeles, Koreatown, Beverly Hills and the Westside. The surrounding Miracle Mile district includes major museums, retail destinations and more than five million square feet of office space.
“5550 Wilshire would be extraordinarily difficult to recreate today—physically, economically and from an entitlement standpoint,” Nagel said. “Its scale, unit sizes, parking, mixed-use character and Miracle Mile location make it a genuinely irreplaceable asset. Our familiarity with the corridor gave us conviction in both the current performance and the long-term potential.”
Decron Properties was represented by Blake Rogers of JLL who also represented the seller in this transaction.
