January 31, 2017
Chicago-based LaSalle Investment Management acquired three Westside office assets for a reported $168 million. Two of the buildings are located in Playa Vista, and the other is in Malibu.
The properties, which total roughly 205,000 square feet, were sold by a venture between Pacshore Partners, Philip Orosco’s WLA real estate firm, and the Canyon Catalyst Fund, CalPERS’ real estate emerging manager program managed by Canyon Partners Real Estate.
The PV buildings are located at 5340 Alla Rd. and 12901 Jefferson Blvd., and are stabilized, fully-renovated, creative offices. The Malibu asset is a 35,000-square-foot boutique office building located at 22619 PCH, overlooking Carbon Beach.
CBRE’s Sean Sullivan, Todd Tydlaska and Michael Longo arranged the sale, and Brad Zampa secured the financing for the buyer, which purchased the properties on behalf of a pension fund client.
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