Strategic Value Partners, LLC (SVP) and Lincoln Property Company have acquired The Bluffs office campus in Playa Vista. The two-building creative office campus is located at 12121 and 12181 Bluff Creek Dr. and includes 500,000 square feet of space. The purchase price was not disclosed, but published reports put it at $188 million. In 2016, it was traded for $413 million.
SVP and Lincoln plan to renovate the shared outdoor courtyard and building lobby. “These improvements, along with a new leasing campaign run by the Lincoln team, will enable the campus to more effectively compete for tenants from global organizations looking to establish or expand their office footprint in Los Angeles. ” said Mike Ungari. , SVP’s global head of real estate.
“The Bluffs has long been known as Playa Vista’s premier office campus,” said Rob Cain, executive vice president of Lincoln’s Southern California region. “We are grateful to be part of the ownership group with SVP, positioning this property as a world-class office asset and providing management and leasing services that will attract the best tenants in the market.”
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