SOURCE: Schon Tepler Group, Inc.

September 01, 2015 02:44 ET

Schon Tepler Group Announces Development Deal in Los Angeles

LOS ANGELES, CA--(Marketwired - September 01, 2015) - Schon Tepler Group, Inc. announced today the purchase of a land parcel located on Riverside Dr, in the Toluca Lake neighborhood of Los Angeles. The project is a “by right project” utilizing SB-1818 bonus density, and construction will commence on or about January 2016 with a projected opening in the spring of 2017.

The Company plans to develop a 13-unit apartment building. Each apartment will have a townhouse-style layout, rooftop balconies, and luxury condo level finishes. This is the company’s 8th acquisition for ground up apartment development since 2012.

The Company has entered into a co-investment partnership with private investors for the development of the project. The Company will have a 50% interest in the venture and will earn customary management fees and may earn a promoted interest.

About Schon Tepler Group, Inc.
Schon Tepler Group, Inc (STG) is a fully integrated real estate development and investment company based in Los Angeles, California. The company’s focus is on creating and preserving value for their equity investors through the use of their specialized knowledge of real estate and quality in-house construction. Schon Tepler Group was formed in 2009 by Paul Schon and Artem Tepler. The experience of the principals, the macroeconomic opportunity and a deep knowledge of real estate trends helped drive the initial business model: to acquire, renovate, and sell distressed residential and multi-family properties during “the great recession”. Being cognizant of changing real estate patterns and the evolving economic landscape, Schon Tepler Group has since transitioned to become a vertically integrated real estate company specializing in ground-up development of multi-family real estate, ground-up development of luxury single family real estate, property management and construction. STG continues to set the bar for outstanding quality, and is committed to exceeding stakeholder expectations.

For more information, please visit the company’s website at http://www.SchonTepler.com

Contact Information

  • Contact Information

    Paul Schon
    Managing Partner
    858-361-9334

    Artem Tepler
    Managing Partner
    310-413-7089