Boston, MA – June 1, 2015 – Intercontinental Real Estate Corporation (“Intercontinental”) a national real estate investment, development, and management firm headquartered in Boston, MA announced the acquisition of 6300 Wilshire in Los Angeles, California in a joint venture with The Swig Company, a San Francisco-based investor/operator of urban office buildings. This acquisition was led by Intercontinental’s Jessica Levin, Director, Acquisitions and Allen Logue, Associate Director, Acquisitions. They were joined in the effort by Tomas Schoenberg and Purva Gujar of The Swig Company.
6300 Wilshire is a 21 story Class A Office building consisting of 404,234 rentable square feet. The property is centrally located along the Miracle Mile district of Los Angeles in close proximity to Beverly Hills, Century City, West Hollywood, Hollywood, and downtown Los Angeles. 6300 Wilshire offers unobstructed views of the Hollywood Hills and the Wilshire Corridor, as well as exceptional access to a variety of shopping, dining, housing, and other entertainment options. Moreover, the property is well positioned to benefit from the planned expansion of the Purple Line of the Los Angeles Metro System. Neighborhood attractions and nearby conveniences include, among others: (i) Museum Row, consisting of the Los Angeles County Museum of Art, George C. Page Museum, and the Petersen Automotive Museum, (ii) Restaurant Row, one of the region’s most famous dining districts, (iii) The Grove, a farmers market and lifestyle center containing nationally renowned retailers, dining, and fresh food, and (iv) the Beverly Center and Beverly Connection which provides four levels of shopping with over 100 boutiques.
Jessica Levin, Director of Acquisitions and member of Intercontinental’s Investment Committee, commented, “We're excited to add to our Los Angeles office portfolio with the acquisition of this centrally located, Class A Miracle Mile office tower. With a foundation of credit tenancies and a diverse, media- and entertainment-oriented roster, the property will continue to benefit from excellent proximity to a wide variety of amenities and creative labor pool as well as spectacular views of the Hollywood Hills and the Wilshire Corridor. Our business plan for this asset includes updates to the lobby and other common areas of the building, and continuing to build on the submarket's strong leasing momentum.”
About The Swig Company:
The Swig Company, LLC (www.swigco.com) is a privately-owned, San Francisco based real estate operator and investor with a 78-year history of investment, development, partnership and management of commercial real estate properties in major markets throughout the United States. Founded in 1936 by Benjamin Swig, The Swig Company is today a vertically integrated platform that combines expertise in investment (both joint-ventures and wholly-owned assets), institutional-quality accounting and controls, proactive asset management, leasing, and property management, adds value to the portfolio and informs market perspective creating strong relationships among tenants, brokers, capital partners, and key community stakeholders. The Company’s real estate history provides a long-term perspective combined with agility and experience stewarding investors safely through many market cycles. These qualities have been the foundation for successful wealth creation and sustainability. With this foundation, The Swig Company continues to evolve a platform to merge its legacy and “generational thinking” with a growth platform based on experience, flexibility and nimbleness, keeping the company at the forefront of emerging trends in the commercial real estate industry.
Intercontinental Real Estate Corporation is an SEC registered investment adviser with deep expertise in real estate investment, finance, development, construction management and asset management. Since 1959, Intercontinental has managed, developed, and owned over $10 billion in real estate property. Today, Intercontinental owns and manages a portfolio in excess of $4 billion for its clients. Intercontinental balances its portfolio both by robust property mix and by geographic diversification, while actively seeking opportunities to invest in both core and core plus, as well as value-add development projects. Visit www.intercontinental.net for more information.