AEW Divests Calabasas Office Complex
Newmark arranged the sale of Calabasas Courtyard, a three-building office project located in Calabasas. The sale price wasn’t disclosed.
Co-head, U.S. capital markets Kevin Shannon, vice chairmen Rob Hannan, Ken White, Laura Stumm and Michael Moll and director Alex Beaton represented the seller, AEW Capital Management. The buyer was Calabasas Courtyard LLC, comprised of industry veterans Brian Forster of Pacific Partners Commercial, Inc. and Tony Principe of Westcord Commercial, Inc., along with private investor John Cataldo.
“The acquisition of Calabasas Courtyard is yet another example of private capital identifying an attractive entry-point basis in a highly desirable office market like Calabasas,” said Shannon. “This property’s strategic location, just off the 101 Freeway, and nestled within one of the nation’s most esteemed zip codes, positions it as the quintessential office destination.”
The buyer intends to upgrade and modernize the common areas of the three buildings as well as the individual suites.