September 15, 2015
Santa Monica-based Colony Capital recently purchased a collection of office, industrial and retail properties from Bank of America for more than $200 million. The 11 buildings, totaling 1.5 million square feet, include three in Los Angeles County, as well as some in Riverside, Sacramento and San Diego.
The assets are about 60 percent leased, and seen as a value-add play by Colony Capital executives. In Los Angeles County, the properties purchased are Catalina Landing, an office park in Long Beach; Commerce Park, an office park in Commerce; and Glendora Plaza, a retail center in that town.
Bank of America had recently taken over the portfolio from Abbey Co. CBRE’s Kevin Shannon brokered the deal for Bank of America.