Angelo Gordon/Cambra Real Estate has acquired a Class-A office building on the west side of Los Angeles for $33 million from Arden Realty. The four-story, 92,486 sq. ft. building sits on a half-acre parcel. Built in 1984, the property features private balconies, an on-site café and 330 parking spaces. The commercial centers of Beverly Hills, Culver City, Santa Monica and Century City are located within a 10-minute drive. The building is 98% leased.
Stonehenge Partners, which acquires, redevelops, finances and manages multifamily real estate in Manhattan, has acquired an Upper East Side apartment building from Broadway Management Co. for $126 million. The transaction includes a 21-story, 158-unit apartment building with five retail stores and a 69-car garage. The building is near East Side hospitals and retail, and within walking distance of Midtown's Plaza District.
Buchanan Street Partners, in a joint venture, acquired an office portfolio in San Francisco for $49.7 million. The 597,573 sq. ft. portfolio includes four buildings: two seven-story buildings, a 28-story building, and a six-story structure located in the city's Civic Center submarket near residences, dining and cultural centers. Buchanan and its joint venture partner will enhance common areas and address asbestos and seismic-related issues.
