September 3, 2018 Comments Off on Ocean West, Westbrook Divest Westwood Asset to Goldman Sachs for $93M Views: 3249 California News, Los Angeles

Ocean West, Westbrook Divest Westwood Asset to Goldman Sachs for $93M

Los Angeles-based Ocean West Capital Partners and New York-based Westbrook Partners divested 1640 Sepulveda to a Goldman Sachs Group Inc. real estate fund for $92.5 million. The recently-renovated, five-story, 164,682-square-foot creative office building is located in the Westwood submarket.

The 77%-occupied property was built in 1987, and underwent an $8.3 million repositioning and modernization program that was completed in 2018.

NKF Capital Markets’ Kevin Shannon, Rob Hannan, Ken White, Michael Moll, Laura Stumm and Guillermo Boisson represented the seller, a venture led by Ocean West. With its new partner, Ocean West will remain invested in the property and continue to manage the asset.

“With the creative office transformation now complete, 1640 Sepulveda is one of the Westside’s most coveted mid-rise creative office properties that has attracted prominent entertainment, tech, and media-related companies seeking a premier office environment,” said Shannon.

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