Kennedy Wilson Represents U.S. Bank in Sale of Figueroa Courtyard

LOS ANGELES - Feb. 3, 2015 - PRLog -- Global real estate investment and services firm Kennedy Wilson has announced the firm’s representation of the seller in the sale of Figueroa Courtyard, a five-building, 270,169-square-foot office park in Downtown Los Angeles (DTLA). U.S. Bank National Association sold the property to Rising Realty Partners, LLC. The transaction closed on Jan. 16.

“This transaction marks a unique turn in Downtown LA’s office environment in the transfer of a lender-owned asset to an investor/developer known for its unique and purposeful repositioning of office properties throughout California,” said Fred Cordova, executive vice president of Kennedy Wilson’s Brokerage Group, who led the investment sales team.

In addition to Cordova, the Kennedy Wilson Brokerage Group team for this transaction included Jim Rosten, president, and Ed Sachse, executive managing director, who spearheaded client relations; and the investment sales team of Ryan Eddy, vice president, and Suzy Foster, project manager. Lee Shapiro, executive vice president, lead the leasing team, with Justin Weiss, senior associate.

Rising Realty Partners purchased the property for its significant development and repositioning potential as the only low-rise office park in DTLA. The firm plans to reposition the property as a creative office campus to better meet the evolving needs of the area’s tenants.

Built in 1979, the campus is located at 201-281South Figueroa St. near Bunker Hill and the Financial District, and is currently 72 percent leased with national and regional tenants such as U.S. Bank, OneLegacy, Associated Press, StubHub, UCLA Extension, California Community Foundation and American Public Media.

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About Kennedy Wilson

Founded in 1977, Kennedy Wilson is a vertically integrated global real estate investment and services company headquartered in Beverly Hills, California, with 25 offices in the U.S., U.K., Ireland, Spain, Jersey and Japan. The company, on its own or with partners, invests opportunistically in a variety of real estate-related investments, including commercial, multifamily, loan purchases and originations, residential and hotels. Kennedy Wilson offers a comprehensive array of real estate services, including investment management, property services, auction, conventional sales, brokerage and research. For further information on Kennedy Wilson, please visit www.kennedywilson.com. (http://www.kennedywilson.com/)