May 17, 2018
Irvine, CA-based The Bascom Group and joint-venture partner, Harbor Associates, acquired two office buildings in Los Angeles and San Diego in separate transactions totaling $37.4 million.
The larger of the two acquisitions was a 75,000-square-foot office building at 4130 Cahuenga Blvd. in Los Angeles’s Toluca Lake submarket, that was purchased for $21.7 million. NKF’s Sean Fulp represented the unnamed seller. Brian Halpern and Alex Kane of JLL arranged the financing with Ready Capital Structured Finance.
Additionally, a 39,000-square-foot, two-story office building at 2010 Jimmy Durante Blvd. in Del Mar was acquired for $15.7 million. Cushman and Wakefield’s Joe Anderson represented the undisclosed seller.
The acquisitions are part of a planned $500-million asset investment program between Harbor and Bascom across the Western U.S. in the coming two years. Over the last three years, they’ve invested more than $250 million in a portfolio of 18 office buildings in SoCal and Colorado totaling 1.2 million square feet.
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