A Fortress Investment Group LLC affiliate bought the Brentwood Gateway office tower at 11611 San Vicente Blvd. in Brentwood, Calif., for $58 million from Brentwood Gateway LLC, an affiliate of private equity group Vintage Capital Group LLC, The Real Deal reported.
The New York-based buyer was originally set to acquire the 10-story, 104,700-square-foot building for the same price in July 2018 but the deal fell through after it tried to negotiate for a better rate.
The tower is ground-leased through 2091 by a family trust assigned to Eulalie Ahern, and it is almost entirely leased to tenants including Buter Buzard Fishbien & Royce, Allison & Partners LLC and Oaktree Capital Management LP. The ground-floor retail space is occupied by One West Bank and Velocity Training Studio, the May 20 report added.
Newmark Knight Frank and Crosbie Gliner Schiffman Southard & Swanson LLP represented Brentwood Gateway.