{"id":1004367533,"date":"2019-11-13T01:27:39","date_gmt":"2019-11-13T09:27:39","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004367533"},"modified":"2019-11-13T01:27:39","modified_gmt":"2019-11-13T09:27:39","slug":"rockwood-capital-artisan-realty-expand-hollywood-presence","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/rockwood-capital-artisan-realty-expand-hollywood-presence\/","title":{"rendered":"Rockwood Capital, Artisan Realty Expand Hollywood Presence"},"content":{"rendered":"<div id=\"attachment_1004367680\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/4640-Lankershim.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004367680\" data-attachment-id=\"1004367680\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/rockwood-capital-artisan-realty-expand-hollywood-presence\/4640-lankershim\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/4640-Lankershim.jpg\" data-orig-size=\"882,588\" data-comments-opened=\"0\" 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;0&quot;}\" data-image-title=\"4640 Lankershim\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;4640 Lankershim. Image courtesy of &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/4640-Lankershim.jpg?w=882\" class=\"wp-image-1004367680 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/4640-Lankershim.jpg\" alt=\"\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/4640-Lankershim.jpg 882w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/4640-Lankershim.jpg?resize=300,200 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/4640-Lankershim.jpg?resize=768,512 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004367680\" class=\"wp-caption-text\">4640 Lankershim. <em>Image courtesy of Newmark Knight Frank.<\/em><\/p><\/div>\n<p>Swift Real Estate Partners has sold a six-story, 73,972-square-foot office building in North Hollywood, Calif., for $30 million. Newmark Knight Frank represented the seller, while the buyers, Rockwood Capital and Artisan Realty Advisors, were self-represented.&nbsp;<\/p>\n<p>The multi-tenant Class B asset was built in 1982 and is located at 4640 Lankershim Blvd. The property is 98 percent leased to tenants from the entertainment industry, as well as to companies providing financial, educational and professional services.<\/p>\n<h2>Value-add investment<\/h2>\n<p>After purchasing the asset in October 2017, Swift Real Estate Partners reconditioned the restrooms, the lobby and created a large outdoor lounge, which brought the project\u2019s occupancy from 70 percent to stabilization. According to Yardi Matrix, Swift <a href=\"https:\/\/www.commercialsearch.com\/news\/mid-rise-la-office-building-changes-hands\/\">paid 23.5 million for the building<\/a>, which had received a cosmetic restoration in 2013.<\/p>\n<p>This is the second North Hollywood asset that trades between Swift and the same buyers. In August 2019, Rockwood Capital and Artisan Realty acquired Academy Tower, a Class A, two-building property at 5200 Lankershim Blvd., for $121 million.<\/p>\n<p>NKF\u2019s Rob Hannan, Laura Stumm, Ken White, Mike Moll along with Kevin Shannon, co-head of capital markets, were part of the team that brokered the deal.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The two companies acquired a six-story office building in North Hollywood for $30 million or $406 per square foot.<\/p>\n","protected":false},"author":868,"featured_media":1004367680,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,1594,21742,21747,15],"tags":[47804,33532,36007,34208],"class_list":["post-1004367533","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-los-angeles","category-latest","category-office","category-west","tag-artisan-realty-advisors","tag-kevin-shannon","tag-newmark-knight-frank","tag-swift-real-estate-partners"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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