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Ratkovich Out at DTLA’s The Bloc MXU Redev
The Ratkovich Company (TRC) divested its interest in The Bloc in Downtown Los Angeles to one of its equity partners, Washington, DC-based National Real Estate Advisors, LLC, for an undisclosed amount. The 1.8-million-square-foot, mixed-use property occupies a full city block at 7th and Flower Streets, and is in the final phases of a more than $250-million redevelopment and lease-up.
TRC and National acquired the former Macy’s Plaza property in 2013 for $241 million, and jointly transformed the property. The mixed-use project includes the Sheraton Grand Los Angeles Hotel, a 33-story Class A office building, Macy’s Los Angeles flagship store, as well as a mix of curated stores and restaurants, including the highly-anticipated Alamo Drafthouse Cinema.
TRC’s Wayne Ratkovich says, “Now that the majority of The Bloc’s critical construction components are completed, it is the appropriate time for the firm to focus on the San Pedro Public Market and The Alhambra.”
For comments, questions or concerns, please contact Dennis Kaiser
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