LOS ANGELES — (BUSINESS WIRE) — Ark Capital Partners and Belay Investment Group today announced the successful completion of an investment in properties located at 8777-8783 Beverly Blvd and 308-314 N Robertson Blvd. The property is a 100% leased, 18,800 square foot commercial facility with 32 parking spaces located in West Hollywood, California. The buyer of the property is Los Angeles-based real estate holding company US Property Trust.
The disposition validated the value creation by Ark, which purchased the property in 2021 during the COVID-19 pandemic. The sale of this property presented a unique opportunity for the buyer to acquire a property adjacent to Beverly Hills in the heart of the West Hollywood Design District. West Hollywood remains one of Southern California’s most popular retail destinations due to exceptional tenant demand and continued densification. Properties of this quality rarely transact in this high-barrier-to-entry submarket, especially at such a prominent intersection in the West Hollywood Design District.
“Through our partnership with Belay, we recognized this unique opportunity to acquire this property off-market and increase its value over the long term,” said Quincy, co-founder and managing partner of Arc. Allen said. He added: “By working with the tenant to reposition the asset into this highly attractive mixed-use district, we were able to solidify the long-term stability of the property.”
“Going forward, Ark remains focused on mid-market value-add opportunities where the current capital market disruption presents significant opportunities,” added Neville Rhone, co-founder and managing partner of Ark.
During Arc’s ownership, they entered into incremental lease agreements with three credit retailers to stabilize the asset. The facility is home to the U.S. flagship Leica Camera Store & Gallery, a state-of-the-art destination recognized for quality products, events, and art exhibits. Other tenants include FlexForm, an Italian luxury furniture store, and Knoll, a furniture store acquired by Herman Miller, a public sector company with a market capitalization of $2 billion.
“We are pleased to have achieved another favorable exit through our programmatic partnership with Arc.The success of our investment also relies on Arc’s ability to execute and the recovery of its well-located ‘high street’ retail assets. I believe it exemplifies the power of both,” Eliza Bailey said. Co-founder, CEO and CIO of Belay.
“We are delighted to be working with Arc to bring their new value-added business plan to fruition. We appreciate the team’s dedication in the face of challenging market conditions related to experiential infill retail during the pending period. ,” said Jake Lorridge, managing director of the company. Belay.
The sale was led by JLL’s Brian Ray, whose advisory team included Jeff Sauce, Jeff Tranchina, Gleb Lvovich, Tim Kurzal, Daniel Tyner and Alex Olson. It was included.
About Ark Capital Partners
Arc Capital Partners is an institutional real estate owner and investment manager specializing in redefining real estate in mixed-use environments. Founded in 2013 by principals with over $10 billion of trading experience, Arc targets middle market investments in high barrier to entry Sunbelt markets with strong demographic demand fundamentals. Arc is a diversified ownership company that pursues preferred stock, joint ventures and direct investments with both attractive value-add/opportunity benefits and downside protection. For more information, please visit www.arccapitalpartners.com.
About Belay Investment Group
Belay Investment Group, LLC is an institutional investment management firm specializing in fine-grained real estate opportunities in small and medium-sized markets through the establishment of programmatic partnerships with local professional operating partners. The firm pursues equity and debt opportunities across risk spectrums, property types, and geographies, providing scalability and customization for clients. For more information, please visit www.belayinvestmentgroup.com.
About US Property Trust
US Property Trust is a leader in the acquisition and ownership of Class A retail real estate across the United States. They own and manage a diverse portfolio of shopping centers and commercial properties throughout the United States. For more information, please visit www.uspropertytrust.com.
About JLL
For more than 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients purchase, construct, occupy, manage and manage a variety of commercial, industrial, hotel, residential and retail properties. We have supported investment. A Fortune 500 company with annual revenues of $20.8 billion and operations in more than 80 countries, our more than 110,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities see a brighter path forward. JLL is a brand name and registered trademark of Jones Lang LaSalle Incorporated. For more information, please visit jll.com.
