Harkham Family acquires trophy creative office building in Westlake Village
JLL Capital Markets represented the buyer in the acquisition and financing of 2625 Townsgate in Southern California’s Conejo Valley
LOS ANGELES, May 5, 2022 – JLL Capital Markets announced today that it has brokered the $35.1 million acquisition and arranged $21.06 million in financing for 2625 Townsgate, a Class A creative office property totaling 132,037 square feet in Westlake Village, California.
JLL represented the buyer, the Harkham Family, who was in an exchange from their $200 million sale of 360 N Rodeo Drive. JLL also simultaneously secured a differentiated 10-year, fixed rate acquisition loan with a sub-100 basis point spread and multiple years of interest only.
Originally built in the 1970’s and renovated in 2001, 2625 Townsgate is one of the most desirable office buildings in all of Westlake Village with floor-to-ceiling glass, a high-profile tenant roster and creative office features that mirrors trophy creative buildings in San Francisco and prime Los Angeles. 2625 Townsgate also caters to the growing tenant demand for life sciences space in the Conejo Valley due to its close proximity to Amgen and other leading pharmaceutical companies.
Westlake Village is an affluent community of more than 8,000 residents boasting a median household income of $224,348.
The JLL Capital Markets team representing the buyer and the financing was led by Senior Managing Director Marc Schillinger.
Schillinger notes, “Companies stay and continue to relocate to Westlake Village because it is a beautiful place to live while also having a thriving business community.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 98,000 as of December 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.