Hines Acquires 12100 Wilshire in West Los Angeles

(LOS ANGELES) – The Los Angeles office of Hines, the international real estate firm, announced today that its Hines U.S. Office Value Added Fund II, L.P. (HVAF II) has acquired 12100 Wilshire Boulevard. The 19-story, 350,000-square-foot office building is located at the intersection of Wilshire Boulevard and Bundy Drive in the Brentwood submarket of West Los Angeles.

The seller was represented by Eastdil Secured.

Hines represented itself in the transaction.

Terms of the purchase were not disclosed.

Designed by Tracy Price Associates, 12100 Wilshire was completed in 1985.

The building features ocean views starting from the second floor, outdoor balconies on the top two floors and an above-market parking ratio.

12100 Wilshire is more than 90 percent leased to tenants including:

Baker Hostettler, SOA, ReMax and Regent Business Systems.

Hines will manage and lease the property.

“The purchase of 12100 Wilshire gives us the opportunity to make an investment in one of the most highly sought after markets in the United States,” said Dave Congdon, senior vice president and HVAF II fund manager.

“We are thrilled to own such a high-quality asset in West LA, and hope to capitalize on strong underlying market fundamentals as we manage the rollover of the project,” said Colin Shepherd, senior vice president with Hines in Los Angeles.

Hines entered the Los Angeles market in 1987 with the development of Figueroa at Wilshire.

Since that time, the firm has developed, acquired and managed more than five million square feet in the area.

Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide. The Hines portfolio of projects underway, completed, acquired and managed for third parties includes more than 1,000 properties representing approximately 416 million square feet of office, residential, mixed-use, industrial, hotel, medical, retail and sports facilities, as well as large, master-planned communities and land developments.

With offices in 68 U.S. cities and 15 foreign countries, and controlled assets valued at approximately $19.9 billion, Hines is one of the largest real estate organizations in the world. Visit www.hines.com for more information.