Sunday, December 25, 2016

HFF closes sale of Hercules Campus West in Playa Vista, CA

Hercules Campus West, Silicon Beach Area,  Playa Vista, CA

JoAnn and Wayne Ratkovich  (Photo by Gettyimages)
LOS ANGELES, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Hercules Campus West, a historically significant four-building creative campus, leased to a multinational technology company, in Playa Vista, California, a master-planned community in Los Angeles’ “Silicon Beach.”

HFF marketed the property on behalf of the sellers, The Ratkovich Company and Penwood Real Estate Investment Management, LLC, and procured the buyer, a diversified Japanese corporate investor. 

Conceived during a prolific period of discovery and innovation under Howard Hughes, the buildings include the soaring, voluminous hangars in which Howard Hughes built the Hercules H-4 plane, also known as the “Spruce Goose.” 

Inside the envelope of these beautiful buildings, the tenant plans to build new state-of-the-art structures.  

Under Hughes, the hangars were home to amazing innovations in the fields of aircraft, communications, defense and satellite technology.  The next era of innovation will continue at Hercules Campus as it transitions from aerospace to cyberspace.

Wayne Ratkovich was the visionary behind the 2010 acquisition and restoration of the 28-acre campus containing 11 buildings formerly occupied by Hughes Corporation.  With an appreciation for both the history and inherent beauty in these dilapidated structures, Wayne and his capable team sought to transform these buildings into modern, cutting edge creative space. 

John Crump
The HFF investment sales team representing the seller was led by John Crump, Andrew Harper, Michael Leggett, Doug Bond and Ryan Gallagher. 

The buyer was represented by EGW Asset Management Inc. (EastGate | EGW), the global real estate representative to the buyer for all markets outside Japan. 

Per Reid Mackay of EGW, “The buyer focuses on long-term net leased assets in major global markets.  Hercules Campus has a superb and iconic profile and having an investment grade credit tenant was highly appealing.”

Founded in 1977 by current President/CEO Wayne Ratkovich, The Ratkovich Company’s (TRC) mission is to profitably produce developments that improve the quality of urban life.  TRC has developed properties valued at more than $1.6 billion over the course of its history. The Ratkovich Company is jointly owned by Wayne and Jo Ann Ratkovich and Steven C. Markoff.

 Penwood Real Estate Investment Management (PREIM) is a principal-owned firm dedicated to managing value-added real estate investments for the institutional marketplace.  PREIM focuses on taking quantifiable incremental risk to provide above market returns and executes value-added strategies in supply-restrained markets to achieve premium investment results.

 For a complete copy of the company’s news release, please contact:

Kristen Murphy
Director, Marketing
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
tel 617.848.1572 | fax 617.338.2150 |

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