LOS ANGELES –ASB Real Estate Investments has spent $39 million to purchase seven prime retail assets in Beverly Hills, Santa Monica and Venice.
The properties – totaling 23,150 square feet in single-story buildings located along Robertson Avenue in Beverly Hills, Abbot Kinney Boulevard in Venice, and Santa Monica's Main Street – were purchased on behalf of ASB's Allegiance Fund in a joint venture with Blatteis & Schnur, its Los Angeles-based operating partner for the investments. ASB's Allegiance Fund is a $2.1 billion core, open-end real estate fund investing in markets with attractive real estate fundamentals and in assets that have unique, competitive advantages to drive long-term tenant demand.
The acquisitions comprise:
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
