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

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

LA promo

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

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

Adam Shekhter and the 1415 5th Street project

WS Communities boosts affordable housing plans in Santa Monica

From left: Nuveen CEO Vijay Advani, Graymark founder/CEO Brian Hecktman

Graymark, Nuveen pay $97M for El Segundo creative office

La Mirada industrial building

Clarion pays $77M for La Mirada industrial project