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This Week's LA Deal Sheet




Watt Cos. has reorganized, and the firm’s assets will be split into five groups overseen by Watt Family shareholders.

The five groups will launch new real estate firms to manage their assigned assets and create new business development opportunities under the banner of the new entity. Each of the entities will operate part of the Watt Cos. portfolio, which encompasses retail centers, office, industrial and multifamily assets. The five new corporations to come out of this move are  Watt Capital Developers, Watt Capital Partners, SR Watt Co., AJ Watt Enterprises Inc. and Williams & Watt Inc.

One of those companies, SR Watt Co., will manage a 1.1M SF portfolio that includes 363K SF of retail, 466 multifamily units and 140K SF of office. As one of its first projects, the firm is planning to redevelop an office site in San Clemente into an In-N-Out. The company is led by President Courtney Trujillo.


Marcus & Millichap Capital Corp. arranged $34.4M in financing for five multifamily properties in San Diego. The 151-unit portfolio spans studio and one- and two-bedroom units, and amenities at the properties include a swimming pool, 24-hour maintenance and green space. The financing was secured by MMCC Executive Managing Director Chad O’Connor, who is based in the firm’s San Diego office.


Samuel Landman joined Concord Capital Partners as chief investment officer. Landman will work on the acquisition, financing and disposition of real estate assets at the firm. Landman was previously at WealthStone, where he served as vice president of capital markets. There he was responsible for sourcing and arranging equity capital and debt financing for joint ventures and partnerships across the firm’s portfolio. Prior to that, Landman was a senior executive at Universe Holdings.

Landgon Park Capital bought a 177-unit apartment building in Hollywood.


Langdon Park Capital spent $36.9M on two LA multifamily properties. The transactions were for a 177-unit apartment property in Hollywood and a 23-unit apartment building in the Baldwin Hills area. The company paid $31.4M for the Hollywood property and $5.65M for the Baldwin Village property, The Real Deal reports. Real estate investment company Kennedy Wilson is a founding partner in Langdon Park. The firm also got a “strategic investment” from Connecticut-based Eldridge.


San Francisco-based Lift Partners bought a roughly 45K SF industrial building in Rancho Dominguez in an off-market sale for an undisclosed price. Property records show that the building at 2950 East Harcourt St. sold for $11.85M. DAUM Commercial Real Estate Services Executive Vice President and principal Anthony Bergeman, along with DAUM team members Krishna Shegran and Michael Chase, represented the seller, a private owner and manufacturing company, and procured the buyer.


Westland Real Estate Group sold a single-tenant retail building in Downey occupied by an Aldi grocery store for $7.3M. JLL Retail Capital Markets Investment Sales and Advisory team, led by Eric Kathrein and Warren McClean, represented the buyer, a private trust, which acquired the property at 11215 Lakewood Blvd.


Charter school company The Classical Academies, purchased a vacant, approximately 100K SF office campus in Oceanside for $11.8M, and will use it as a charter school. The property is four low-rise buildings across about 6 acres. Cushman & Wakefield’s Peter Curry, Jason Kimmel and Tim Winslow represented the seller, Sunrise Capital, in the transaction. Jon Walters and Jim Benson of Kidder Mathews represented the buyer.


A joint venture between North America Sekisui House and Holland Partner Group purchased four parcels totaling about 4 acres in Huntington Beach. The seller was Dolphin Partners. The site has been designated by the city as a potential housing location that would help it meet its state-mandated housing goals. The purchase price for the site was not disclosed.  


NAI Capital Commercial Executive Vice President Kathleen A. Silver and Senior Vice President Kay Sasatomi, with NAI Capital Commercial’s Investment Services Group in the West LA office completed the sale of approximately 1.5 acres in Hollywood. Silver and Sasatomi represented the seller, Musicians Institute, in the transaction. The buyer was the developer of the CMNTY Culture Campus, an office and production space complex. The terms of the sale were not disclosed and public records do not yet reflect the sale.