July 22, 2016—Vantage Property Investors found a diamond in the rough in Los Angeles’ Playa Vista neighborhood and transformed it into Playa Jefferson, a gem that just fetched $165 million. The real estate investment and development company sold the 11-acre creative office complex to an affiliate of Rockwood Capital LLC, just five years after picking it up for a mere $33 million.
Investors were chomping at the bit to get their hands on Playa Jefferson, a multi-structure office complex at 12777 W. Jefferson Blvd., and the property’s location in an increasingly popular area of Silicon Beach was a big part of the attraction. Playa Vista has moved up in status since Vantage purchased the property from Embarcadero Capital Partners.
“The investment community had completely shifted its perception of Playa Vista during this time. When we purchased, the area was seen as a risky market. Then all of the big name tech and media firms started pouring into Playa Vista, turning it into Silicon Beach,” Stuart Gulland, founder & partner of Vantage Property Investors, told Commercial Property Executive.
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