California CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

California  + Office  | 

Rockwood-LPC Divest Downtown Los Angeles Tower for Nearly $200M to German Investor

Germany’s Deka Immobilien acquired 915 Wilshire in Los Angeles from Rockwood Capital and Lincoln Property Company West for roughly $196 million. The 22-story, 388,126-square-foot Class A office building sits in the heart of Downtown Los Angeles’ Financial District.

Newmark’s Kevin Shannon, Ken White, Rob Hannan and Laura Stumm represented the sellers, a global real estate investment company. Newmark’s David Milestone led the financing effort.

Shannon says, “This is yet another example of foreign capital buying Class A office assets in gateway markets with credit and attractive lease terms. The weighted average lease term on 915 Wilshire was over eight years and the rent roll was anchored by a GSA 15-year lease for nearly a third of the property.”

The 90%-leased property, which recently underwent a comprehensive renovation, is directly adjacent to the 110 Freeway, and near the 7th Street Metro Station.


Get CRE News in 150 words

For comments, questions or concerns, please contact Dennis Kaiser

Connect

Inside The Story

Connect With Deka ImmobilienConnect With Rockwood CapitalConnect With Newmark’s Shannon

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.

  • ◦Financing
  • ◦Sale/Acquisition