Cityview Sells, Repurchases Belle on Bev Apartments With PCCP for $76 Million

Cityview, the Los Angeles developer led by Sean Burton, sold and simultaneously repurchased the Belle on Bev apartment complex in a joint venture with PCCP, according to The Real Deal. The September 2026 transaction valued the 243-unit mixed-use property at $76 million, or more than $300,000 per apartment. The city transfer tax totaled $4.5 million, most of it attributable to Measure ULA, the so-called mansion tax on Los Angeles real estate transactions above $5.4 million. Burton has previously said the tax "redlined" the city. Belle on Bev, at 1800 Beverly Boulevard in Historic Filipinotown, broke ground in August 2021 and was completed in April 2024. It includes retail space featuring a speakeasy and cocktail bar. Cityview declined to comment; PCCP did not respond. Earlier in 2026, Cityview refinanced Historic South Central apartments with a $96 million Fortress Investment Group note.