Broadreach Capital Partners LLC acquired a 157,000 square-foot office campus known as Park Place located in the West Los Angeles market of Culver City, Calif.
The value of the transaction was $27.3 million.
RREEF sold the office park.
Park Place consists of 16, two-story, low-rise office buildings, which range in size from 8,000 to 15,000 square feet. The project is located off of the I-405 and the 90 freeways.
The company will enhance the project through a variety capital improvement projects and has enlisted Nicole Audette of Transwestern Commercial Services to provide day-to-day onsite property management services. Broadreach is also working with brokers Steve Solomon and Craig Meyer of Trammell Crow Co. for leasing and sales.
Broadreach Capital Partners LLC is a real estate private equity firm that invests in a variety of western U.S. commercial real estate.
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