Kennedy Wilson Snags $45M Class-A Building

LOS ANGELES-Real estate investment and services firm Kennedy Wilson partnered with Pacific Western Bank to acquire the $45-million, class-A creative-use office building and a seven-story parking structure on Lankershim Blvd. in North Hollywood. Kennedy Wilson provided $7.9 million in equity with Pacific Western Bank providing the additional $30 million in financing.

“Kennedy Wilson strongly believes in the various economic drivers inherent to the North Hollywood submarket, namely technology, entertainment and media-related industries,” Rob Hannan, managing director of Kennedy Wilson’s commercial investment and sales group tells GlobeSt.com. “5161 Lankershim is one of the tri-cities’ premier creative-use office buildings, and we believe it has intrinsic physical characteristics allowing it to strongly capitalize on this permanent tenant demand.”