EVOQ Properties May Seek Buyer

LOS ANGELES—EVOQ Properties may be seeking a buyer. The company’s board of directors has hired financial advisors Houlihan Lokey and Eastdil Secured to explore strategic alternatives to the company’s business, and has hired Houlihan Lokey to market the company and seek prospective buyers. EVOQ Properties will continue to operate as usual during this financial evaluation.

“The EVOQ portfolio is positioned to take advantage of the remarkable revitalization of Downtown Los Angeles,” says Martin Caverly, EVOQ Properties CEO. “The company’s holdings are located in the most dynamic downtown submarkets allowing EVOQ to capitalize on the significant ongoing investment in downtown, as well as new trends in next-generation creative office and industrial space in the Greater Los Angeles area.” At the end of last year, EVOQ Properties had a $36.7 million in cash.