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Sunny Hills Acquires Repositioned Culver City Offices
Newmark arranged the sale of 400 & 600 Corporate Pointe, a recently repositioned 461,960-square-foot, two-building, Class A office campus located in Culver City. The property sold for an undisclosed amount. It traded for $131,250,000 in 2015.
Co-head of U.S. Capital Markets Kevin Shannon, vice chairmen Ken White, Rob Hannan, Michael Moll and Laura Stumm represented the undisclosed seller, with executive managing director Bill Bloodgood and director Alex Bergeson serving as local market leasing experts.
The buyer was Sunny Hills Management Co. Newmark co-president, Global Debt & Structured Finance Jonathan Firestone, vice chairman Blake Thompson and director Henry Cassiday provided support on debt strategy and financing considerations.
“This is another example of a family office syndicate, which included both domestic and foreign investors, taking advantage of a tremendous basis opportunity,” said Shannon. “Culver City is a desirable West Los Angeles submarket which will provide tremendous long-term upside for these patient basis investors.”
- ◦Lease
