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.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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