Starwood paid $605M for the Pacific Corporate Towers

The company paid BlackRock roughly $381 per square foot

Los Angeles /
Nov.November 09, 2017 02:00 PM
Pacific Corporate Towers (Credit: PCT)

Starwood Capital Group paid $605.5 million for the three-building complex known as Pacific Corporate Towers in El Segundo, CoStar reported.

TRD broke the news that the Greenwich, CT-based private investor was in contract to buy the office space at 100-220 Sepulveda Boulevard in September. At the time, brokers familiar with the deal correctly estimated that Starwood’s bid came in over the $600 million mark, surpassing initial estimates of $550 million to $600 million.

The sellers of the 1.59 million-square-foot site were BlackRock and General Motors Pension Trust. The joint partnership cited market conditions as motivation for the sale.

Eastdil Secured LLC represented the seller.

In addition to the PCT towers, Starwood Capital, led by Barry Sternlicht, also owns the Continental & Grand office complex just down the street. It paid DivcoWest $174 million to acquire that one. [CoStar] Natalie Hoberman


Related Articles

arrow_forward_ios
Randy Kendrick, chief executive officer, Xebec Realty, and 12975 Bradley Avenue in Sylmar, CA (Xebec Realty, LoopNet)
Xebec looks to flip Sylmar industrial to self
Xebec looks to flip Sylmar industrial to self
The CitizenM hotel in Los Angeles (Booking)
California starts to refill hotel development pipeline
California starts to refill hotel development pipeline
Distress specialist buys Santa Barbara hotel
Distress specialist buys Santa Barbara hotel
Distress specialist buys Santa Barbara hotel
Richard Lovett, co-chairman / agent, motion picture library literary, CAA (CAA)
CAA picks JMB Realty’s new Century City tower for HQ
CAA picks JMB Realty’s new Century City tower for HQ
Kevin Staley, managing partner, Staley Point Capital; Andrew Terris, managing director, real estate, Bain Capital; and view of 12065 Pike Street (Google Maps, Bain Capital, Staley Point)
Staley Point, Bain spring for beer bash
Staley Point, Bain spring for beer bash
Rexford Industrial Realty co-CEOs Michael Frankel and Howard Schwimmer and property at 4240 West 190th Street (Wexford Industrial Realty, Newmark)
Rexford’s latest in South Bay brings 307K sf
Rexford’s latest in South Bay brings 307K sf
Microsoft CEO Satya Nadella, Activision Blizzard CEO Bobby Kotick and 2701 Olympic Boulevard (Wikipedia, Loopnet)
Here’s how Microsoft will expand its SoCal office footprint with Activision
Here’s how Microsoft will expand its SoCal office footprint with Activision
11672 San Vicente Boulevard in Brentwood (Google Maps)
Brentwood retail complex fetches $2,000 psf
Brentwood retail complex fetches $2,000 psf
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...