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| Sepulveda Center, 3415 South Sepulveda Boulevard, West Los Angeles, CA |
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| Ryan Gallagher |
LOS ANGELES, CA ––
Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $68.2 million
sale of and arranged $43.3 million in financing for Sepulveda Center, an iconic, Class A office tower totaling 178,157
square feet in West Los Angeles, California.
HFF marketed the property
on behalf of the seller, KBS Capital Advisors, and procured the buyer, an
affiliate of The Swig Company.
Additionally, HFF worked on behalf of the new owner to secure the
three-year, floating-rate loan through MetLife Real Estate.
Sepulveda Center is
situated at the intersection of the I-405 and I-10 Freeways at 3415 S.
Sepulveda Boulevard in West Los Angeles.
This location has visibility from more than 375,000 cars per day on
I-405 and is within close proximity to Silicon Beach and the newly-constructed
LA Metro Expo line’s Sepulveda Station.
The surrounding areas of
Culver City and Playa Vista boast average median housing values of $860,000, 43
percent higher than the media value in greater Los Angeles County. The 12-story property is 83 percent leased to
a mix of media, technology and financial tenants.
The new owner will
implement a capital improvement plan that will update the lobbies, bathrooms
and outdoor facilities as well as expand the common building amenities.
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| Andrew Harper |
The HFF investment sales
team representing the seller was led by senior managing director Ryan Gallagher, director Andrew Harper and senior managing
director Michael Leggett, who is
also co-head of HFF’s West Coast team.
HFF’s debt placement team
was led by senior managing director Bruce
Ganong and director Jeff Sause.
For a
complete copy of the company’s news release, please contact:
Kristen M. Murphy
Director, Marketing
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