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Ocean West, Westbrook Divest Westwood Asset to Goldman Sachs for $93M

Los Angeles-based Ocean West Capital Partners and New York-based Westbrook Partners divested 1640 Sepulveda to a Goldman Sachs Group Inc. real estate fund for $92.5 million. The recently-renovated, five-story, 164,682-square-foot creative office building is located in the Westwood submarket.

The 77%-occupied property was built in 1987, and underwent an $8.3 million repositioning and modernization program that was completed in 2018.

NKF Capital Markets’ Kevin Shannon, Rob Hannan, Ken White, Michael Moll, Laura Stumm and Guillermo Boisson represented the seller, a venture led by Ocean West. With its new partner, Ocean West will remain invested in the property and continue to manage the asset.

“With the creative office transformation now complete, 1640 Sepulveda is one of the Westside’s most coveted mid-rise creative office properties that has attracted prominent entertainment, tech, and media-related companies seeking a premier office environment,” said Shannon.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as 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, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.