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LOS ANGELES-The Regents of the University of California have acquired a 100% leased, 123,000-square-foot medical office building called 100 UCLA Medical Plaza from Century City-based Held Properties for $43 million, according to company president Robert D. Held. The seven-story building, which is leased to leading doctors, was developed by Held in the 1990s.

Held Properties has owned and managed the property since it was built, during which time Held expanded its tenant roster to include world-renowned physicians from beyond the UCLA medical community. Held notes that this leasing strategy was key to strengthening the building’s reputation as a hub for top medical experts and enhancing the asset’s long-term value.

Robert Held says that the sale, “paves the way for significant new acquisitions during an outstanding time for buying. It is indicative of our focused pursuit of new, high-quality medical and commercial properties.” The company will continue to develop and invest in quality medical and office buildings in Southern California, he added.

The 100 UCLA Medical Plaza property is located adjacent to the Ronald Reagan UCLA Medical Center at the entrance to the UCLA campus. The medical office building marks the gateway to one of the most prestigious medical complexes in the country.

Held Properties and construction partner Jones Brothers completed 100 UCLA Medical Plaza in 1991, after winning the right to develop the building through a public competition conducted by UCLA. Held Properties developed the building from the ground up, delivering the project on time and on budget for UCLA.

Brad Erickson, executive director of UCLA Campus Service Enterprises, describes the 100 UCLA Medical Plaza building as “a very important asset” and “one that is a key component to making our health system a success.”

Held Properties is a family-owned real estate investment company that was established in 1946. The company develops, owns and manages properties in prime Southern California locations.

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