NGKF Completes $108M Recapitalization in LA
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Paul Jones, NGKF Los Angeles—NGKF Capital Markets 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.
Greenlaw and Walton originally purchased the buildings separately in 2014 and 2015 and have since achieved full occupancy on all three buildings.
“The 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,” Paul Jones, NGKF Capital Markets senior managing director, told Commercial Property Executive. “Furthermore, 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.”…
