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California  + Los Angeles  + Office  | 

Lincoln Divests Pair of Assets for $325M

Lincoln Property Company is selling two SoCal assets for a combined deal value of $325 million. The Dallas-based firm is divesting the 21-story Wedbush Center office tower in Downtown LA and Connexion in Burbank. NKF brokered both deals.

Cerberus Capital is buying the 476,000-square-foot DTLA property at 1000 Wilshire Boulevard for $200 million. Intercontinental Real Estate is taking in the 338,000-square-foot Connexion Burbank complex for $125 million.

Lincoln took control of the two properties in 2012. The 86%-leased Wedbush Center was held with an outside client, which acquired the asset for $132 million and invested $5 million into improvements such as lobby upgrades and a new restaurant.

The three buildings in Burbank that comprise the Connexion complex were held in partnership with Angelo, Gordon & Co., which acquired the asset for $84.2 million. Following a $7.7-million capital improvement effort, the 91%-leased property has been transformed into an integrated walkable campus.

For comments, questions or concerns, please contact Dennis Kaiser

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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.

  • ◦Sale/Acquisition
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