Largest FDIC Property Sale in the Country
S.K. Hart Properties, LC today announced the acquisition of the Bayview Corporate Center in Newport Beach, California. Bayview, a premier Class “A” facility, is the former corporate headquarters of Downey Savings and Loan.
The landmark office campus consists of two six-story towers connected by a dramatic three-story atrium and a five-level parking structure. Located at the intersection of Jamboree Road, MacArthur Boulevard and the SR-73 Freeway, Bayview has prominent signage and excellent access. New tenants will appreciate the high-impact address, quality office build-out and striking views from the property. These benefits will be further enhanced by the highly competitive lease packages being offered by the new owner over the next 12 months. S.K. Hart is considering CB Richard Ellis in Newport Beach as the leasing agent.
The transaction is the largest single property deal in the country managed by the FDIC. The acquisition marks S.K. Hart Properties’ entry into the Orange County commercial real estate market. S.K. Hart has a long history of commercial property management and has significant real estate holdings in Southern California and Utah.
S.K. Hart would like to recognize the hard work, cooperation and professionalism of the FDIC in getting this transaction completed, particularly Tony Ferrulli and Greg Gillroy.
S.K. Hart Properties is an affiliate of S.K. Hart Management, a private company with diversified investments in real estate and companies operating in various industries including alternative energy and international development.
Contacts:
L.A.T. Investment
Vice President Sherry Kia, 310-215-2955
Fax:
310-215-2966
kia_shirin@yahoo.com