July 19, 2016
New York-based Rockwood Capital is acquiring Playa Jefferson, a 195,668-square-foot creative office property in Playa Vista, CA from Manhattan Beach, CA-based Vantage Property Investors for reportedly more than $165 million. The site includes a four-building complex that is 100% leased, as well as a fifth soon-to-be built 55,454-square-foot building.
Since it was acquired in 2011 by Vantage, Playa Vista has emerged as a hot market for tech companies, including the likes of Facebook, which leased 50,000 square feet at Playa Jefferson. It is also a market where capital wants to be.
Newmark Grubb Knight Frank’s capital markets team that handled the asset sale included Kevin Shannon, Ken White, and Scott Schumaker. NGKF’s Scott Selke led the debt and structured finance group on the deal.
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