RIVERSIDE, CA—BH Properties LLC, a troubled asset buyer based in, has purchased an office building here for $10 million.
The company bought the 147,194-sq.-ft.at 2085 Rustin through Auction.com. The two-story building on 14.5 acres at the base of the Box Springs Mountains is 64-percent occupied by AT&T.
BH Director of Acquisitions Andrew Van Tuyle said in a statement that the property’s combination of lot size, clear height and parking ratio allows for amenities not available anywhere else in Riverside. “We are excited for what the future holds,” he said. “This transaction played to our strengths: fast closings on complicatedthat other buyers find problematic. Our “solution oriented” approach is always appreciated by brokers. We’ve now completed deals with all of the major special servicers, and are looking forward to continuing our success on Auction.com.”
David Mudge with Lee & Associates represented the buyer in the purchase transaction. The seller, Century Park Partners LLC, was represented by Sean Fulp with Rockwood Real Estate Advisors.