The Swig Co. Moves Capital from SF to LA

The property is located at 3415 S. Sepulveda Blvd. in Los Angeles.

LOS ANGELES—The Swig Co. has acquired the Sepulveda Center, a 12-story 180,000-square-foot class-A office building in West Los Angeles, from KBS. This is the firm’s sixth acquisition in the L.A. market in the last five years. To purchase the asset, the firm exchanged out of an office property in San Francisco, which is part of a strategy to redeploy capital to the Los Angeles market to grow its Southern California portfolio. The purchase price of the property was not disclosed, but market sources unrelated to the deal say that Swig paid upwards of $50 million for the property.

“This building is the downleg of an exchange from San Francisco. We are redeploying investment capital from San Francisco to L.A., and the company has been trying to grow its Los Angeles portfolio,” Tomas Schoenberg, EVP of investments at the Swig Co., tells GloebSt.com. We have a great portfolio of assets in San Francisco—our California portfolio is about one-third Southern California and two-thirds Bay Area—but it has been a priority for us to grow our portfolio in L.A.