On Monday, Gortikov Capital announced its acquisition of the Samo Collection, a portfolio of 11 buildings containing 399 affordable housing units in Santa Monica. The purchase price was $120 million and the seller remains undisclosed. Based in Santa Monica itself, the new ownership has plans for targeted renovations and a strategy to improve property performance while reducing expenses.
According to Bryan Gortikov, president of Gortikov Capital, this investment is not just an attractive opportunity but also holds personal significance as it is their home community. This rare chance to invest on such a large scale will allow them to make improvements that are much needed by their community while preserving and expanding affordability for residents. Their ultimate goal is to increase accessibility for people who want to live in and enjoy all that Santa Monica has to offer.
With this latest acquisition, Gortikov Capital now controls approximately 23% of all affordable housing built after 1990 within Santa Monica’s inventory.
