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IMAGE: Steve Feinberg, Kevin Shannon and Tim Byrne
ADDRESS: 1000 Wilshire Blvd.
CITY: Los Angeles
MARKET: Downtown LA
ASSET TYPE: Office
SF: 476,000 sf
SELLER: Lincoln Property Co. – Tim Byrne
BUYER: Cerberus Capital Management – Steve Feinberg
BROKERS: Kevin Shannon, NKF Capital Markets co-head of U.S. capital markets, Senior MD Rob Hannan, MD’s Laura Stumm and Michael Moll and Executive MD Ken White were the brokers who represented Lincoln Property Co. David Milestone, NKF Capital Markets executive MD and MD Brett Green procured new financing on behalf of Cerberus.
NOTE:Lincoln Property had purchased 1000 Wilshire for roughly $130 million, or $273 per square foot, in 2012 from a partnership of New York firms Lehman Bros. Holdings Inc. and Broadway Partners Fund Manager LLC.