Playa Vista Offices Trade to Strategic Value Partners, Lincoln Property

Strategic Value Partners, LLC (SVP) and Lincoln Property Company have acquired The Bluffs office campus in Playa Vista. The two-building creative office campus, located at 12121 and 12181 Bluff Creek Dr., includes 500,000 square feet of space. Although the purchase price was not disclosed, published reports put it at $188 million. It previously traded for $413 million in 2016.

SVP and Lincoln plan renovations to the common outdoor courtyard and building lobbies. “These improvements, as well as a refreshed leasing campaign put in place by the Lincoln team, will allow the campus to more effectively compete for the tenancy of global organizations that want to create or expand an office footprint in Los Angeles,” said Mike Ungari, SVP’s global head of real estate.

“The Bluffs has long been known as a premier office campus in Playa Vista,” said Rob Kane, senior EVP overseeing the Southern California region for Lincoln. “We are grateful to be a part of the ownership group with SVP and provide management and leasing services that will position the property as a world-class office asset, attracting the highest caliber tenants in the market.”

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