February 27, 2017
Increased sales activity in 2016 pushed the Los Angeles market into rarefied air. Last year’s $9.6 billion in investment broke a 10-year total sales volume record, according to a joint study from Yardi Matrix and CommercialCafé.
Acquisitions were on an upslope since 2012, and though a slight restraint on cash flow ventures occurred in 2015, the market came back up for a hefty gulp of fresh investments in 2016.
Other key report findings of include:
- The priciest office deal of $1.3 billion went to Douglas Emmett in joint venture with QIA for a Class A, four-building complex on Wilshire Blvd.
- 2016’s heavy-hitter was Blackstone, with $2.9 billion in traded assets, three of which were through affiliate Equity Office.
- Prices per-square-foot surged more than 39% in 2016, reaching a five-year spike with an average rate of $430 per square foot.
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