Dealmaker: Brightstone, Artisan Realty Advisors Buy California Office Campus for $400M

Brightstone Capital Partners, New York, and Artisan Realty Advisors, Los Angeles, acquired Lantana Media Campus, a four-building office portfolio in Santa Monica, Calif.

The Los Angeles Business Journal reported that the joint venture paid $400 million for the asset. 

Mesa West Capital, Los Angeles, provided $283 million in acquisition financing. Mesa West Principal Steve Fried and Vice President Jason Bressler made the arrangements.

Located along the recently completed Metro Expo Line, the “creative office” Lantana Media Campus totals 479,000 square feet on 12 acres in Santa Monica’s Media District. 

“It is one of the most supply-constrained markets in the country,” Brightstone Capital Partners Managing Director Dennis Irvin said. 

Irvin noted that Brightstone plans a multi-million dollar renovation program including contemporary upgrades to the lobbies, elevators and restrooms as well as new enhancements to interior private courtyards.

“Today’s top creative people seek a work environment that maximizes the potential for collaboration and is also highly amenitized,” said Artisan Realty Advisors Co-Founding Partner Mark Laderman.