High-rise commercial buildings

Sub Markets

Property Sectors

Topics

California CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New call-to-action
California  + Los Angeles  | 

Clippers Buy Forum from Madison Square Garden for $400M

The Clippers reached an agreement to purchase the Forum in Inglewood from Madison Square Garden Co. for $400 million. The newly-formed CAPSS LLC was driven by L.A. Clippers Chairman Steve Ballmer and L.A. Clippers Vice Chairman Dennis Wong.

The cash deal ends a long-running legal skirmish with an opponent that had fought to block plans for a new privately-financed NBA arena. The proposed state-of-the-art, 18,000-seat basketball arena, team HQ complex and community center would be located on West Century Boulevard. The project is currently undergoing an environmental review by the City of Inglewood.

“This is an unprecedented time, but we believe in our collective future,” said Ballmer. “We are committed to our investment in the City of Inglewood, which will be good for the community, the Clippers, and our fans.”

All of MSG’s current Forum employees will be extended employment offers by the new owner, and the facility will continue to be operated as a live-music venue.

For comments, questions or concerns, please contact Dennis Kaiser

Connect

Inside The Story

Connect With Clippers’ Ballmer

About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Development
  • ◦Sale/Acquisition
New call-to-action
New call-to-action
New call-to-action