February 19, 2016
BrandView Capital Partners’ Babak Ziai, one of Connect LA’s millennium speakers, recently sourced a deal on a prime Ocean Ave. retail property in Santa Monica. The “next generation” investment and asset management focused leader is now working to represent J.P. Morgan on the asset. Ziai also serves as an adjunct professor at USC Price School’s real estate development program. Here’s a behind-the-scenes look at how the off-market transaction came together.
Why is this deal with J.P. Morgan Asset Management-Global Real Assets unique?
Our valuable relationships with the key parties involved made the deal unique. We facilitated the acquisition with JPMorgan, and now have the opportunity to add value by providing owner’s representation and strategic oversight for the asset going forward. Our relationship with Hanley Investment Group initiated the opportunity. This property’s irreplaceable location, with over 200 feet of valuable street retail frontage along Ocean Avenue. Multi-tenant retail assets above 10,000 square feet rarely trade hands in greater West L.A., which made this an exceptional opportunity to invest on the coast.
What’s next at the oceanfront property?
The property’s strategic location will benefit from increased foot traffic before year-end. Uber will relocate its corporate offices next door, and the Expo Light Rail station will be completed a few blocks away.
What makes urban retail successful in a mixed-use, coastal location is providing a physical environment for social interaction, at the confluence of living and working. This is evident in the property’s mix of gourmet market, fast casual and sit-down restaurants that cater to a diverse customer base of young urbanites, empty-nesters and people ranging across all income demographics.
Why is teaching finance key today, and an integral part of the curriculum at USC?
This program addresses the needs of both the students and their future employers, to incorporate practical real-world application into academic training. I teach finance for real estate investment and development, which is critical to understanding risk-return relationships and property value implications, especially as markets, property types, demographic patterns and the advent of technology (particularly in the urban cores) continue to evolve and interrelate in new ways.
For more information on retail, investment, and mixed-use properties, attend Connect Retail West on March 16th at the Conga Room at LA Live.