Playboy property acquired in West Hollywood

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Broadreach Capital Partners has acquired the Sunset Millennium office and retail complex on Sunset Boulevard in West Hollywood, Calif., for about $100 million. Broadreach Capital Partners bought the complex from Apollo Real Estate Advisors, Broadreach managing director David Simon announced. The Sunset Millennium complex includes the former Playboy Building -- a 10-story, 78,000-square-foot office tower built in 1963 and renovated in 2001. The tower is 100 percent occupied, predominantly by entertainment-industry companies, according to the announcement. Adjacent to the office tower is a 106,000-square-foot retail restaurant complex that includes two two-story retail buildings surrounding a single-story pavilion. Completed in December 2002, the retail center was 88 percent leased at the time of sale. The project also has a parking garage with 1,200 spaces. Broadreach Capital Partners is a real estate private equity firm that invests in commercial, mixed-use and land properties in t...