Kennedy Wilson 6400 Canoga Warner Atrium
As GlobeSt.com first reported, back in June, the firm purchased the portfolio, totaling 700,000 square feet, with a 37% stake in the properties with the remaining equity owned by Kennedy Wilson Real Estate Fund IV, Fairfax Financial and the LeFrak Organization. The acquisition was a direct, off-market deal.
The Beverly Hills-based company, which says this increases its assets under management to $9.8 billion, declined to name the seller, but an unidentified source tells GlobeSt.com that the seller of the portfolio was Jamison Services Inc., a private company based in Los Angeles.
The buildings are located in various submarkets of Los Angeles, including Beverly Hills, Miracle Mile and Encino. This particular property is located in Woodland Hills’ master-planned community of Warner Center, which is emerging as the city center of the San Fernando and Conejo Valleys. According to Jamison Services’ website, rent at the Warner Atrium property is approximately $1.85 per square foot.
Mary Ricks, executive vice chair of Kennedy Wilson, recently said that “These assets are premier properties in highly desirable locations. This is the company’s first significant office acquisition in this cycle, and we were able to source this transaction off-market through an existing long-term relationship.”
purchase 145 Fairfax Miracle Mile
Kennedy Wilson, together with its institutional partners, has acquired approximately $5.1 billion of real estate and real estate secured debt through joint venture and consolidated investments since the beginning of 2010. The estimated value of the assets under the company’s management is currently more than $12 billion.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
