SAN DIEGO/ LOS ANGELES, November 29, 2017. Dekel Capital, a Los Angeles-based real estate merchant bank that specializes in sourcing and placing equity and debt for active middle market commercial real estate developers and investors, recently placed core-plus JV equity on behalf of Montana Avenue Capital Partners, LLC.
Proceeds were used to acquire and reposition a premier Class A, industrial flex multi-tenant park, encompassing a sprawling 13.6 acres, the Property consists of eight industrial flex buildings and one office building, totaling a combined 204,143 square feet, located in the greater San Diego market.
The property represented a unique opportunity to acquire a substantially stabilized flex office campus with the opportunity for future conversion into creative office.
Creative office conversions have experienced a flurry of leasing activity. A significant number of San Diego tenants have relocated from Class A office buildings to be in a creative office environment, making this a solid investment for our client and capital provider. Said Shlomi Ronen.
The buildings are uniquely designed with concrete and reflective glass facades, flexible designs, as well as extensive window lines, efficient loading areas and abundant surface parking. Ideally located within a short distance of the I-5 and I-805 junction, the office park is also set within a vibrant environment near restaurants, retailers, hotels, residential communities and many of the nation’s most influential tech and biotech companies.
Dekel Capital has been engaged in a combined $2 billion of structured transactions for developers, operators and investors, over the past 15 years.