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UNIVERSAL CITY, CA-A joint venture of CarrAmerica Realty Corp. of Washington, DC, and Boston-based Beacon Capital Partners LLC has put up $190 million for the 774,720-sf 10 Universal City Plaza office tower from France’s Vivendi Universal.

In addition to 20% ownership position in the project, CarrAmerica, through a service affiliate, will be providing leasing and property management services for the 35-story, class-A, trophy-quality property in the Tri-Cities submarket of the San Fernando Valley.

Malcolm O’Donnell, Costa Mesa-based managing director in Southern California for CarrAmerica, says the acquisition gives the REIT a larger presence in one of Southern California’s strongest submarkets and continues its strategy of purchasing class-A, trophy office properties in core markets. He adds that the property is close to other assets of CarrAmerica, which now owns, directly or through joint ventures, interests in 66 office buildings comprising approximately 3.8 million sf.

Beacon, with its participation in the deal, now owns about 3.3 million sf in four office properties in Los Angeles, according to Jeremy B. Fletcher, senior vice president and chief executive at Beacon Capital Partners West in Los Angeles.

The 10 Universal City Plaza building is situated next to the Hollywood Freeway and close to the Ventura Freeway, near amenities such as Sheraton and Hilton hotels as well as the Universal CityWalk retail, dining and entertainment center. The new CarrAmerica-Beacon asset also is directly across the street from the Universal City Metro Rail Station, which includes connections to Downtown Los Angeles and many parts of Los Angeles County.

The 10 Universal City building, built in 1984, is 80% occupied, with 50% of the building taken up by Vivendi, including its subsidiaries such as Universal Music Group. GlobeSt.com’s real estate sources say the Vivendi grouping is staying in place. The building’s other 30% is occupied by tenants such as Sun Microsystems, Watson Wyatt and VeriSign.

Vivendi was represented in the sale by Randi Kahn of Salomon Smith Barney’s New York City office. The buyers were represented by O’Donnell at CarrAmerica and Fletcher at Beacon Capital.

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