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The Real Deal Los Angeles

Vista Investment Group acquires ground lease at Media Park Santa Monica

The 101,000-square-foot office campus is 100 percent leased to media and tech tenants
By Natalie Hoberman | July 16, 2018 03:10PM

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.