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September 18, 2018
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SOUTHERN CALIFORNIA NEWS
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Swift Real Estate Partners Buys NoHo Office Building

1/03/18

Swift Real Estate Partners has purchased 4640 Lankershim Boulevard, a 74k sf, Class A office building in North Hollywood. The acquisition was financed with an $18.8 mil loan.

“4640 Lankershim is a well-positioned boutique creative office project with abundant parking and easy freeway access. It offers tenants a discounted alternative to neighboring Burbank and Hollywood markets. Swift was eager to add this property to its growing North Hollywood portfolio,” said Kelsey Schultes of Swift Real Estate Partners.

4640 Lankershim is prominently located in North Hollywood’s thriving media district. The property sits adjacent to three major freeways and is just blocks away from the NoHo Metro subway station which provides excellent regional public transportation. It is currently 70% occupied by eight tenants.

Mike Walker, Brad Zampa, Megan Woodring and Taylor Shepard with CBRE Capital Markets’ Debt & Structured Finance team arranged the floating rate loan on behalf of an entity owned and controlled by Swift Real Estate Partners. Financing was provided by a foreign bank. Swift Real Estate

Partners purchased the Property in an off-market transaction facilitated by Mike Longo, Sean Sullivan and Todd Tydlaska of CBRE’s Investment Sales team in El Segundo.

The high barrier to entry North Hollywood submarket has experienced 34% rent growth in the past four years as many companies migrate from Hollywood due to the lack of desirable vacancy and a better occupancy cost, according to research from CBRE. With no new office supply expected to deliver in 2018 and offering the live/work/play environment tenants covet today, North Hollywood is primed for continued growth.





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