October 26, 2016 Comments Off on Historic Uptown Oakland Asset Trades for $47M Views: 365 Bay Area, California News, West

Historic Uptown Oakland Asset Trades for $47M

Canadian-based Bentall Kennedy acquired the historic, 14-story Latham Square Building in Oakland, CA for $47 million. The global real estate investment advisor bought the Class A asset from San Francisco-based Ridge Capital Investors and Greenwich, CT-based Contrarian Capital Management in an all-cash transaction.

The 116,056 square-foot-asset was acquired for a new investment fund that Bentall Kennedy set up for historic creative office buildings. Tenants at the 86%-leased property include Omicia and Fluid.

Ridge Capital and Contrarian Capital bought the Uptown asset in 2014 for $12 million at auction and repositioned 40,000 square feet as creative space. The new owners plan to complete the remaining redevelopment in the coming years.

CBRE’s Russell Ingrum, Tyler Meyerdirk, Sean Sullivan and Seth McKinnon represented the seller.

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