{"id":1004150206,"date":"2016-08-17T00:41:51","date_gmt":"2016-08-17T08:41:51","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004150206"},"modified":"2020-04-08T01:51:50","modified_gmt":"2020-04-08T09:51:50","slug":"ngkf-completes-108m-recapitalization-in-la","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/ngkf-completes-108m-recapitalization-in-la\/","title":{"rendered":"NGKF Completes $108M Recapitalization in LA"},"content":{"rendered":"<p>By Keith Loria, Contributing Editor<\/p>\n<div id=\"attachment_1004150207\" style=\"width: 308px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/jones.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004150207\" data-attachment-id=\"1004150207\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/ngkf-completes-108m-recapitalization-in-la\/jones-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/jones.jpg\" data-orig-size=\"663,667\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"jones\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/jones.jpg?w=663\" class=\"wp-image-1004150207 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/jones.jpg\" alt=\"Paul Jones, NGKF\" width=\"298\" height=\"300\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/jones.jpg 663w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/jones.jpg?resize=150,150 150w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/jones.jpg?resize=298,300 298w\" sizes=\"auto, (max-width: 298px) 100vw, 298px\" \/><\/a><p id=\"caption-attachment-1004150207\" class=\"wp-caption-text\">Paul Jones, NGKF<\/p><\/div>\n<p style=\"text-align: left;\"><strong>Los Angeles<\/strong>\u2014<a href=\"https:\/\/www.ngkf.com\/\" target=\"_blank\" rel=\"nofollow\">NGKF Capital Markets\u00a0<\/a>has advised on the $108.5 million recapitalization of three high-quality Class A multi-tenant office buildings located in Orange, Calif., on behalf of Greenlaw Partners and Walton Street.<\/p>\n<p>Greenlaw and Walton originally purchased the buildings separately in 2014 and 2015 and have since achieved full occupancy on all three buildings.<\/p>\n<p>\u201cThe transaction is a strategic recapitalization for Greenlaw Partners, who successfully executed their business plan by repositioning the three office buildings via capital improvement projects and lease-up,\u201d Paul Jones, NGKF Capital Markets senior managing director, told <em><a href=\"https:\/\/www.commercialsearch.com\/news\/\" target=\"_blank\">Commercial Property Executive<\/a><\/em>. \u201cFurthermore, Greenlaw Partners and Walton were able to gain entitlements for two multifamily development projects offering stability for the buyer as well as upside in the strong central Orange County market.\u201d<\/p>\n<p>The assets\u00a0consist of 600 City Parkway West, a 199,075-square-foot building with a tenant roster that includes Prospect Medical Holdings, ADOC Acquisition Co. and the Department of Health &amp; Human Services; 3800 Chapman, an eight-story, 169,851-square-foot building with tenants that include American Advisors Group, Home Depot USA and the FBI; and 500 City Parkway, a 70,320-square-foot building that is home to Old Republic National Title and Reliant Financial Corp.<\/p>\n<p>\u201cThe three office buildings are well located and cater to the large back-office user whose employee base is coming from Orange County, Los Angeles County and the Inland Empire,\u201d Jones said. \u201cEach building offers functional floor plates with convenient surface parking and an abundance of walkable amenities.\u00a0Furthermore, this provided a unique opportunity to take advantage of a compelling value-add multi-family development site in conjunction with strong cash flows from the existing well-leased office campus.\u201d<\/p>\n<p>According to Jones, the project provides tremendous future optionality for the new partnership with multiple parcels and food groups.<\/p>\n<p>\u201cThis transaction was a great example of a local operating partner adding significant value for their capital partner,\u201d he said. \u201cThe buildings were repositioned via capital improvements projects and lease-up. Some of the capital projects included corridor and restroom renovations, landscaping and elevator modernizations.\u201d<\/p>\n<p>Jones was joined by Kevin Shannon, NGKF Capital Markets president of West Coast Capital Markets\u00a0and Managing Director\u00a0Ken White, in representing the existing partnership of Greenlaw Partners and Walton Street.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company advised on the recapitalization of three Class A office buildings in Orange, Calif.<\/p>\n","protected":false},"author":451,"featured_media":1004150207,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21825,21783,1594,21742,21747,15],"tags":[],"class_list":["post-1004150206","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-finance","category-investment","category-los-angeles","category-latest","category-office","category-west"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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