November 8, 2016
New York-based Brightstone Capital Partners and Los Angeles-based and Artisan Realty Advisors acquired Lantana Media Campus for reportedly $400 million. The joint-venture bought the 12-acre, four-building, 478,713-square-foot office asset in Santa Monica, CA from from Atlanta-based Jamestown Properties.
The new ownership plans a comprehensive, multi-million dollar renovation program including fresh, contemporary approaches to the lobbies, elevators and restrooms. Additional enhancements, designed to activate and energize interior private courtyards, as well as the addition of a robust, on-site amenity package, are in the works.
Brightstone called the deal “an extraordinary opportunity” that was “consistent” with its “model of acquiring unique, high quality assets in advance of offering interests to our investors.”
Eastdil Secured’s Stephen Somer brokered the transaction. Los Angeles-based Mesa West Capital’s Steve Fried and Jason Bressler arranged $283.3-million in acquisition financing.
For comments, questions or concerns, please contact Dennis Kaiser