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5/17/19
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Brentwood Gateway, a 10-story, 104.7k sf office tower in Los Angeles’ Brentwood neighborhood, was acquired by Sargossa LLC, an affiliate of Fortress Investment Group, in a $58 mil ($554/sf) transaction. Built in 1977, the Class A tower sits on a .88-acre site at 11611 San Vicente Blvd, just north of Wilshire Blvd and west of the 405 Fwy.
The trophy property is approximately 99% occupied by a diverse mix of tenants, including: Buter, Buzard, Fishbien & Royce; Allison & Partners LLC; and Oaktree Capital Management.
NKF’s Co-Head of U.S. Capital Markets Kevin Shannon, Executive Managing Director Ken White, Executive Managing Director Rob Hannan, and Senior Managing Directors Laura Stumm and Michael Moll represented the seller, Brentwood Gateway LLC, an affiliate of Vintage Capital Group, in the transaction. David Alvarado and Eoin Gubbins with Crosbie Gliner Schiffman Southard & Swanson LLP (CGS3) provided legal representation for the seller. According to Alvarado, the transaction entailed a complex ground lease transfer.
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