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CushWake Arranges Recapitalizations in Carlsbad for RPG
Cushman & Wakefield represented RPG in the recapitalization sales of two Class A creative office and mixed-use office/retail assets in Carlsbad. The properties had a combined building value of $86 million at the time of transaction.
Transacted separately, the recapitalizations consisted of Fusion, a recently transformed 121,541-square-foot Class A creative flex building that is fully leased, and nearby Lift, San Diego’s first-ever creative mixed-use ground-up development consisting of two Class A loft-style buildings totaling 53,205 square feet.
Vice chairman Aric Starck and senior associate Drew Dodds with Cushman & Wakefield represented RPG in both transactions. Starck also handled the sales of both assets when they were originally purchased by RPG.
Fusion was acquired by New York-based Clarion Partners, LLC with a full building value of $54 million.
Lift was acquired in early January by Lift Innovation Way, LLC with a full building value of $32 million.
- ◦Sale/Acquisition
