The new fund, based on its $215 million equity investment, will be able to acquire office and industrial properties valued at $600 million, notes Phil Belling, managing principal of the firm.

The new fund, which follows a $180 million venture in which Layton-Belling acquired Southland properties during the past year, has already acquired The Concourse, a 667,000-sf premier mixed-use industrial, office and flex property on Gale Avenue in the City of Industry.

Layton-Belling bought the development from AEW in a transaction brokered by Jeff Cole and Rick Putnam of Trammell Crow Co.

The new LBA Realty Fund is the fourth commingled real estate fund for LBA, which will oversee the fund on behalf of a diverse group of institutional and high net worth investors. In its previous fund, LBA spent more than $180 million on industrial properties throughout Southern California through the LBA Industrial Fund 1 LLC.

LBA, a real estate investment and management company, has acquired more than 100 industrial and office properties during the last seven years, totaling approximately $1.2 billion. David Thomas, principal and director of acquisitions for LBA, notes that the firm has been flexible and diverse in its purchases, acquiring a wide range of office and industrial properties throughout Southern California for prices from as low as $5 million to as high as $100 million. The firm is based in Newport Beach with regional offices throughout Southern California, including Los Angeles, Orange County and San Diego. Founded in 1991, the firm has owned, managed and/or developed more than 10 million sf of Southern California industrial and office properties.