KPMG has signed a nearly 70K SF lease spanning three floors at the U.S. Bank Tower.
The firm has also signed a separate lease spanning nearly 50K SF at the Plaza at Continental Park in El Segundo, CoStar reported.
The U.S. Bank Tower in Los Angeles
KPMG will relocate from the KPMG Center at 550 S. Hope St., where it leases around 88K SF. The firm will move into the two new spaces by summer 2026.
PEOPLE
Matt Construction appointed Brian Saenger to succeed Matt co-founder Steve Matt as president and CEO. Steve Matt transitions to chairman of the Matt board of directors.
Additionally, Jason Mosier has been promoted to chief commercial officer and executive vice president.
Saenger comes to Matt after more than four years as president and CEO of The Ratkovich Co., where he held senior leadership roles for nearly 15 years. Saenger raised more than $1.5B of equity and debt and drove over $500M in acquisitions at Ratkovich.
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Affordable housing nonprofit Century Housing Corp. has hired William Wong as chief financial officer, effective in mid-August.
Wong brings nearly 40 years of international experience in corporate finance, accounting, tax, investments, financial planning and risk management. Wong helped raise nearly $1B in equity and debt capital over the course of his career.
Wong previously served as group chief financial officer and operating partner at Taussig Capital Holdings. He was also a founding member and manager of multiple investment entities, including a hedge fund backed by Protégé Partners.
SALES
Institutional Property Advisors announced the $100M sale of Cypress Point, a 268-unit multifamily property in Ventura. The transaction equates to $373K per unit.
The property’s strong performance history includes average occupancy over the last five years of 97.6%. IPA’s Kevin Green, Joseph Grabiec and Gregory Harris represented the seller, County Center LP, and procured the buyer, Raintree Partners.
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JLL Capital Markets announced that it has arranged the approximately $35M sale and financing of The Headquarters, a 74K SF open-air shopping center in the heart of San Diego’s Marina District, at the entrance to Seaport Village.
JLL represented the seller, a private real estate investment firm. The buyer was a private real estate partnership. JLL arranged the acquisition financing in a competitive bid process on behalf of the buyer.
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Lee & Associates’ LA North/Ventura office has brokered the sale of a six-building industrial portfolio totaling about 107K SF on 8.6 acres to Captiva Partners for $26.5M.
The portfolio consists of three separate projects at 23907-23947 Ventura Blvd., 23930-23978 Craftsman Road, 5101-5111 and 5115 Douglas Fir Road, and 23961 Craftsman Road in Calabasas. Each building features rear bay loading doors and strong freeway access.
The Lee & Associates team of Scott Caswell and Erica Balin represented the seller, Calabasas Investment Group and Craftsman Investment Group, as well as the buyer.
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ADC Real Estate Group LP, an affiliate of Amoroso Cos., acquired ALUR Apartments, a 51-unit community at 700 Locust St. in Pasadena, for $22M.
CBRE’s Kamran Paydar and Kadie Presley Wilson represented the seller, a private LA-based investor. Ryan Greer, Trevor Breaux and Troy Tegeler with CBRE’s debt and structured finance team arranged acquisition financing on behalf of the buyer.
ALUR was built in 1987 and renovated in 2021. It holds a mix of one- and two-bedroom units averaging 950 SF. Each unit has a private balcony, central heat and air, laundry and fireplaces in most units.
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Khoshbin Co. acquired Orangewood Corporate Plaza, a two-building office campus at 2100-2200 Orangewood Ave. in Orange, for $18.9M.
CBRE National Office Partners’ Anthony DeLorenzo, along with Bryan Johnson and Sammy Cemo of Private Capital Partners, represented the seller in the transaction. CBRE’s Matt Didier, David Dowd and Jennifer Whittington also advised the seller.
Orangewood Corporate Plaza is approximately 110K SF across 4.5 acres and was 84% leased at the time of sale. The property was renovated with $3.3M in capital improvements, including HVAC, roofing and common areas.
FINANCING
Newmark arranged a $165M loan on behalf of Hackman Capital Partners, Affinius Capital and Raleigh Enterprises for the refinancing of Raleigh Studios, a 315K SF production campus in Hollywood.
Newmark’s Jonathan Firestone, Blake Thompson and Peter Mavredakis secured the financing, with Wells Fargo as the lead lender and Barclays as co-lender. Jordan Roeschlaub also supported the transaction.
Raleigh Studios is fully leased to Netflix under a long-term lease with no termination provisions.
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JLL Capital Markets secured a $92M construction loan for Aston Residences, a 190-unit, Class-A multifamily project slated for Culver City.
JLL represented the borrower, Helio Group, in arranging the floating-rate loan with Affinius Capital.
Aston Residences is planned for 10505 Washington Blvd. Once completed, the project will offer 5K SF of ground-floor retail as well as 160 one-bedroom and 30 two-bedroom units.
JLL’s team representing the borrower was led by Jeff Sause, Chad Morgan, Jacob Michael and Danny Ryan.