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| Newport Plaza, 895 Dove Street, Newport Beach, CA |
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| Ryan Gallagher |
IRVINE, CA – HFF announced it has closed the sale of Newport
Plaza, a 107,472-square-foot, Class A office building in Newport Beach,
California.
HFF
marketed the property on behalf of Equity Office. A fund managed by Goldman
Sachs Asset Management purchased the asset free and clear of existing debt.
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| Richard Plummer |
Newport Plaza is located at 895 Dove Street just
south of Orange County’s John Wayne Airport proximate to State Routes 73 and 55
and Interstate 405.
Built in 2000, the
institutionally maintained building is 98 percent leased and serves as the
headquarters for Newmeyer & Dillion, LLP.
HFF’s investment sales team representing the seller was led
by senior managing directors Ryan Gallagher and Richard Plummer,
managing director Mike McCann and director Tim Geiman.
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| Michael E. McCann |
John Weiner, Jeff
Morgan and Dean Chandler of CBRE acted as the local market leasing
broker on the sale.
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| Jeffrey Morgan |
Equity Office is one of the largest and most well-respected
commercial real estate firms in the nation, with a portfolio encompassing 60
million square feet of Class A office space under management in superior
locations throughout the country. For
more information, visit www.equityoffice.com.
Goldman Sachs Asset Management is the asset management arm
of The Goldman Sachs Group, Inc. (NYSE: GS), which manages $849 billion as of
June 30, 2013.
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| John D. Weiner |
Goldman Sachs Asset Management has been providing
discretionary investment advisory services since 1988 and has investment
professionals in all major financial centers around the world.
The company offers investment strategies across a broad
range of asset classes to institutional and individual clients globally.
 |
| Dean Chandler |
Founded in 1869,
Goldman Sachs is a leading global investment banking, securities and investment
management firm that provides a wide range of financial services to a
substantial and diversified client base that includes corporations, financial
institutions, governments and high-net-worth individuals.
For a complete copy of the company’s news release, please
contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com