Campus @ Warner Center selling for $211M
A U.K.-based investment firm is buying the sprawling complex from Lincoln Property and Angelo Gordon
UPDATED, Feb. 15, 9:30 a.m.: Investment firm Global Mutual is buying the sprawling Campus @ Warner Center office complex for $211 million, The Real Deal has confirmed.
The sellers, Lincoln Property Company and Angelo Gordon, listed the 509,000-square-foot Campus @ Warner at 21215 and 21255 Burbank Boulevard last May. The price pencils out to $414 a square foot, well above what the duo paid for the property three years ago. The deal was first reported in Real Estate Alert.
Comprised of two six-story buildings, Campus @ Warner is nearly fully leased and went on the market for $215 million.
In July 2018, Anthem Blue Cross signed a deal to occupy 169,000 square feet at the campus.
Thr price Global Mutual is paying is 44 percent more than the $147 million that Lincoln Property and Angelo Gordon paid for the complex in 2016. At the time it was known as LNR Warner Center, and was owned by Starwood Property Trust.
U.K.-based Global Mutual — which also has an office in Pasadena — is run by executive partners Jonathan Feldman, Robert Kanerick and Joseph Self.
Firms have been flocking to Warner Center in recent years as development has surged. The area is set to see an additional 24,000 residential units by 2033.
This story was updated to reflect that the sale is pending.