NEW YORK & LOS ANGELES--(BUSINESS WIRE)--Brightstone Capital Partners, a global real estate investment management platform, and Artisan Realty Advisors, a Los Angeles-based real estate investment company, have formed a joint venture to acquire Lantana Media Campus in Santa Monica, CA, a four-building office campus totaling 478,713 square feet on approximately 12 acres.
The Class A property is located within the Santa Monica Media District in the heart of “Silicon Beach,” the area’s premier hub for entertainment, media, technology and advertising companies. Conveniently located along the recently completed Metro Expo Line, Lantana Media Campus offers a variety of building types suited to both large and small tenants, particularly those seeking a unique “creative office” campus environment.
“Santa Monica’s strategic location and amenity-rich environment make the area one of the top submarkets in Southern California,” stated Dennis Irvin, Douglas Lee and John Rivard, Managing Directors of Brightstone Capital Partners. “It is one of the most supply constrained markets in the country, making the acquisition of Lantana Media Campus an extraordinary opportunity for Brightstone and one that is consistent with our model of acquiring unique, high quality assets in advance of offering interests to our investors.”
The new ownership will embark on a comprehensive, multi-million dollar renovation program, ensuring that Lantana will meet the standards of even the most discerning creative companies. Planned upgrades to the property include fresh, contemporary approaches to the lobbies, elevators and restrooms, as well as new enhancements designed to activate and energize interior private courtyards and the addition of a robust, on-site amenity package.
“As the new stewards of this appealing property, our goal is to create a world-class media campus in Santa Monica,” said Mark Laderman and Collin Komae, Co-Founding Partners of Artisan Realty Advisors. “Today’s top creative people seek a work environment that maximizes the potential for collaboration and is also highly amenitized. We are confident that Lantana will increasingly be their new location of choice.”
Los Angeles-based Mesa West Capital provided the acquisition financing, with a portion of the loan proceeds to be used for capital improvements and leasing costs. Steve Fried and Jason Bressler represented Mesa West.
About Brightstone Capital Partners
Headquartered in New York, Brightstone Capital Partners is a global commercial real estate investment management platform established in partnership with Vanke, one of the world’s largest real estate development and services companies. Financial commitments from the firm’s founding partners enable Brightstone to create investment solutions with flexible, transparent structures and ownership that is aligned with investors. Brightstone Capital Partners is the sole owner and corporate parent of Brightstone Investment Advisors, an SEC registered investment advisor.* For more information, please visit www.brightstonecap.com.
* Any reference to Brightstone as an SEC registered investment advisor does not imply a certain level of skill or training.
About Artisan Realty Advisors
Artisan Realty Advisors is a privately-held Southern California based real estate investment and operating company. The firm invests in core-plus, value-add and opportunistic office and mixed-use assets in select submarkets within Los Angeles, Orange County and San Diego. The Principals have an extensive track record of creating value through the acquisition, development, redevelopment and asset management of over 7.5 million square feet of office properties representing over $3.0 billion of transaction value. For more information, please visit www.artisanra.com.