LA County had four of the biggest US deals in Q2

One Santa Fe and the Garland Center were on the list, among others

TRD LOS ANGELES /
Jul.July 06, 2016 08:30 AM

Updated: July 6th, 2016, 12:46 p.m.: New York City may have maintained, predictably, its stronghold on massive single-property real estate deals in the second quarter of 2016, but the City of Angels snuck a few in as well. The Real Deal broke the news of all four deals.

Under commercial deals, the eleventh biggest sale by price per square foot was the Apollo at Rosecrans in El Segundo. As TRD reported in May, buyer Intercontinental Real Estate dished out $328 million, or $600 a square foot, for the creative office complex. That was nearly six times what seller Invesco paid for the property in 2013.

No. 14 on the list, compiled by REAlert, is the former headquarters of CBRE at 400 South Hope Street. CBRE Global Investors sold the 26-story building in DTLA for $330 million, or $471 per square foot, to a joint venture between Pittsburgh-based PNC Financial Services Group and Munich, Germany-based real estate fund manager GLL Real Estate.

The Garland Center in Downtown L.A. comes in at number 19. Rising Realty Partners bought the 773,000-square-foot structure for $210 million, or $286 per square foot, last month, TRD reported. 

Finally, under multi-family transactions, One Santa Fe takes fourth place, as it traded hands for $200 million, or $460,829 per apartment, in June. TRD broke the news that the Boston-based Berkshire Group had acquired the massive Arts District development in a ground lease that will remain in effect until 2090. The sellers were McGregor Brown Company, Cowley Real Estate Partners and Polis Builders and Canyon Partners Real Estate. [REAlert] — Cathaleen Chen

Correction: This story has been updated to reflect that Nelson Rising’s Rising Realty bought the Garland Center. 


Related Articles

arrow_forward_ios
LA promo

Coming Soon: The Real Deal Los Angeles’ Winter 2020 issue!

From left, clockwise: Daydream Apartments’ Griffin and Grace on Spring, Douglas Emmett’s The Glendon at Westwood and Carlyle Group’s Sofia Los Angeles

Here are LA’s 5 biggest multifamily sales of 2019

Relevant Group’s Richard Heyman and the project site (Credit: Google Maps)

Relevant Group plans 87-unit apartment complex in South LA

A rendering of the project

Developer files plans to build 87-unit apartment complex in Pico Union

From left: Howard Schwimmer and Michael S. Frankel, with 1601 W. Mission Boulevard and 2757 E. Del Amo Boulevard (Credit: Google Maps)

Rexford Industrial adds to LA portfolio with $100M in acquisitions

Andrew McDonald and At Mateo in the Arts District

Cushman’s West Coast chief talks expansion, DTLA market, the death of the starving baby broker & more

3339 Exposition Blvd. and Asher Luzzatto

Luzzatto Co. assembling creative office hub in West Adams

Jason Illoulian and the Cemex plant

Faring makes $30M assemblage play on WeHo/LA border

arrow_forward_ios
Loading...