Rockefeller Group Investment Management, which coordinates the real estate investment activities for The Rockefeller Group, announced that it has acquired an office building portfolio in Beverly Hills, CA from Tishman Speyer for an undisclosed amount. The 236,000 square foot portfolio on Civic Center Drive includes UTA Plaza and The Ice House, consisting of 9336, 9346 and 9348 Civic Center Drive. Eastdil Secured was the sole advisor involved in the transaction.
"We remain focused on acquiring high quality assets in gateway markets, and we are very pleased with the strong fit offered by these properties in West Los Angeles," said Atsushi Nakajima, president and chief executive officer of The Rockefeller Group.
"These are distinctive properties in an established institutional market," said Dennis Irvin, president and chief executive officer of Rockefeller Group Investment Management. "They represent premier assets with prominent tenants, in a highly desirable submarket with supply constraints, all of which combine to offer stability, liquidity and good long-term prospects."
According to a Commercial Property Executive article, the property was 100% leased at the time of the sale, with major tenants including United Talent Agency, Playboy Enterprises, and Live Nation Worldwide.
For more news and information visit Blumberg Capital Partners.
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