David Sonnenblick of Sonnenblick-Eichner in Los Angeles tells GlobeSt.com that the office and warehouse buildings are part of a 15-building portfolio that Kearny and Morgan Stanley Real Estate Funds acquired late last year. Sonnenblick and Patrick Brown, also of the firm's Los Angeles office, represented buyer and seller in the sale.
Sonnenblick and Brown also arranged the financing, which was from a Wall Street investment bank at fixed rate of approximately 6% for a 10-year term. Sonnenblick says Warner Center-based Jefferson Realty, an investment management and advisory firm that also manages the properties, acted as a consultant to the buyer.
The five buildings are along Oxnard and Califa streets in the business park, which was developed in the 1970s and 1980s. The buildings are 100% leased to tenants that include ATK Missiles, the San Fernando Valley Bar Association, the University of West Los Angeles and California Lutheran University.
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