Vista Investment Group acquires ground lease at Media Park Santa Monica

Los Angeles /
Jul.July 16, 2018 03:10 PM
Vista Investment Group execs Philip and Jonathan Barach and the property

UPDATED, July 17, 10:10 a.m.: Vista Investment Group, a Santa Monica-based firm, acquired a leasehold interest on a fully leased office campus in Santa Monica for an undisclosed amount, the company announced Monday.

The seller is Redwood Partners, which acquired the ground lease on the property in 2013, also for an undisclosed amount.

Located at 1813 Centinela Avenue, adjacent to the Metro Expo Line, the 5.22-acre adaptive reuse site features a 101,400-square-foot office campus, which includes three recently renovated, low-rise office buildings. Each building features exposed ceilings and modern layouts, in addition to access to outdoor common areas and electric vehicle charging stations.

The property is 100 percent leased to media and technology companies, including Whip Networks, which develops apps for sharing content, and EPS-Cineworks, a post-production company.

Bob Safai at Madison Partners brokered the deal.

Vista, which targets multifamily investments and commercial properties, secured a long-term loan for the acquisition, arranged by Marc Schillinger and Ryan Ash at HFF.

Santa Monica has been home to a flurry of expensive leasehold trades in recent months. Most notably, Boston Properties paid $616 million for the ground lease at the sprawling Santa Monica Business Park on Ocean Park Boulevard.


Related Articles

arrow_forward_ios
Granite CEO Michael Dardick and Industrious CEO Jamie Hodari

Industrious partners with landlords to offer tenants satellite workplaces

Industrious partners with landlords to offer tenants satellite workplaces
Colorado Campus at 2041-2115 Colorado Avenue and Northwestern Mutual CEO John E. Schlifske

Northwestern Mutual picks up Santa Monica office campus for $166M

Northwestern Mutual picks up Santa Monica office campus for $166M
Macerich CEO Thomas O’Hern and Santa Monica Place mall

Here’s what tenants are paying at Macerich’s Santa Monica Place

Here’s what tenants are paying at Macerich’s Santa Monica Place
CEO of Amazon Web Services Andy Jassy

A top Amazon exec buys in Santa Monica

A top Amazon exec buys in Santa Monica
Prop 15 property tax measure draws millions (Credit: iStock)

Prop 15 property tax measure draws millions of dollars from for and against campaigns

Prop 15 property tax measure draws millions of dollars from for and against campaigns
California is allowing barbershops and salons to reopen under new coronavirus mitigation guidelines (Credit: Noam Galai/Getty Images)

California allows barbershops to reopen, but LA holds back

California allows barbershops to reopen, but LA holds back
LA County assessor Jeffrey Prang

LA County properties valued at nearly $2 trillion…before pandemic

LA County properties valued at nearly $2 trillion…before pandemic
WS Communities CEO Scott Walter and VP of Finance Gregory Proniloff, Madison Realty Capital’s Josh Zegen, 1433 Euclid Street in Santa Monica; and rendering of mixed-use project at 3030 Nebraska Avenue in Santa Monica (Credit: Google Maps and Madison Realty Capital)

WS Communities nabs $150M loan for six renovations and a development site

WS Communities nabs $150M loan for six renovations and a development site
arrow_forward_ios

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

Loading...