The twin 16-story office towers stand in the 6300 block of Canoga Avenue. They were purchased by Beacon Capital Strategic Partners LP, a $287-million fund that was started about two years ago.
The nearly 600,000-sf office project is almost fully leased to tenants that include insurer Blue Shield of California and lender Ryland Mortgage Co. It includes a Cheesecake Factory restaurant, a fitness club, other retail space and large parking structure. As part of the deal, Beacon also acquired the land under the adjacent Hilton Woodland Hills & Towers.
The LA office of Secured Capital Corp. began marketing the property on behalf of the giant California Public Employees Retirement System about six months ago. Beacon Capital's top West Coast executive tells GlobeSt.com that the Trillium project is a perfect match for the fund's investment objectives.
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