October 11, 2019
An affiliate of San Francisco-based real estate investment firm The Roxborough Group, LLC, in partnership with Los Angeles-based The Ruth Group, LLC, completed the sale of 5901 W Century Blvd. in Los Angeles. The buyer of the 306,243-square-foot LAX submarket office asset was a partnership led by North Sea Capital.
North Sea Capital’s Scott Burrin says, “Our partnership was attracted to the tremendous mark to mark upside, with the well-below market average existing rents in conjunction with the great basis.”
The 15-story, 306,243-square-foot office tower is 92% leased. Along with recent building systems upgrades, 5901 Century has been heavily rebranded and features a newly renovated lobby and common areas, an executive clubhouse, dog park, and a bicycle-sharing program.
NKF’s Kevin Shannon, Michael Moore, Ken White and Sean Fulp represented the seller. The buyer was self-represented. NKF’s David Milestone and Brett Green represented the buyer in securing a $39.71 million loan for acquisition financing.
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