November 1, 2016
San Francisco-based Swift Real Estate Partners acquired The Academy Tower in North Hollywood, CA for $61.5 million from Beverly Hills, CA-based Kennedy Wilson. The 174,000-square-foot Class A office building was acquired in 2012 by Kennedy Wilson for $48 million.
The 8-story asset, at 5200 Lankershim Blvd., is within the walkable NoHo Arts District, and near the Burbank Media District. It is part of the Academy development, along with the ATAS Building and the Magnolia Office Suites at The Academy.
Swift, which acquires, renovates and repositions Class A and B office properties, recently began investing in SoCal assets. It traditionally focuses on Northern California.
Newmark Grubb Knight Frank’s Kevin Shannon, Sean Fulp, Rob Hannan and Brad Burton brokered the deal on behalf of the seller. The buyer was self-represented.
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