Los Angeles, CA (June 6, 2016) – Canyon Partners Real Estate LLC (“Canyon”) announced that it has closed on the sale of One Santa Fe, the iconic, Michael Maltzan Architecture-designed community in downtown Los Angeles, to Berkshire Group. One Santa Fe is a joint development between Canyon and One Santa Fe PMC, LLC, which is comprised of industry leading developers, The McGregor Brown Company, Cowley Real Estate Partners and Polis Builders, Ltd. Canyon made its original investment in One Santa Fe through its Canyon-Johnson Urban Fund III in 2011. Construction of the project commenced in 2012 and was completed in 2015.
Located in downtown Los Angeles’s thriving Arts District, One Santa Fe is a 500,000-square-foot, 438- residence, mixed-use development that includes The Yards, a curated collection of 25 unique shops, restaurants and community arts spaces. The site is walking distance from Little Tokyo and the Metro Gold Line (Little Tokyo/Arts District Station), providing direct access to Union Station and the Metro’s expanding 98 miles of service.
The property features a total of 438 studio, 1-bedroom and 2- bedroom apartments with modern interior finishes that include high-end appliances, quartz stone countertops, advanced technology and panoramic views. Common area amenities include a zero-edge salt-water pool, three whirlpool spas, fitness club, resident clubhouse, business center and full concierge services.
Architecturally, One Santa Fe is one of the most critically acclaimed new buildings in Los Angeles and has received numerous design awards including the 2015 Los Angeles American Institute of Architecture Honor Award. One Santa Fe is the longest building in Los Angeles, spanning over one-quarter of a mile (1,624 feet).
Since 2001, the Canyon-Johnson Urban Funds have invested in densely populated, ethnically diverse urban and suburban locations across the United States. These investments have encompassed a mix of property types including retail, office, residential, mixed-use, hospitality, commercial and industrial.
About Canyon Partners Real Estate LLC
Canyon Partners Real Estate LLC (“Canyon”) is the real estate direct investing arm of Canyon Partners, LLC. Canyon focuses on providing debt and equity capital for commercial real estate in primary and secondary markets across the U.S., primarily to facilitate asset acquisition, value-add repositioning, development or recapitalization. Since inception, Canyon has invested over $6.0 billion of capital in over 235 commercial real estate and mortgage transactions with a total capitalization of $16.0 billion through its distinct real estate investment platforms.
Founded in 1990, Canyon Partners, LLC is an investment management firm headquartered in Los Angeles which, together with its affiliates, manages over $20.5 billion of assets. For more information visit: www.canyonpartners.com.
About The McGregor Brown Company
McGregor Brown is a Los Angeles based firm specializing in the development and property management of complex special-use and commercial real estate projects. McGregor Brown is led by William McGregor and Toran Brown. Founded in 1987, the company develops and manages projects for its own account and on a contract basis for outside clients. The company takes an active role in overseeing all phases of the development process including site selection and analysis, economic feasibility, design, entitlements, construction, budget management, marketing and leasing, and property management.
About Berkshire Group
Berkshire Group is a real estate investment management company primarily known for its multifamily investment and operational experience. In addition to deploying capital through equity, debt and development in the multifamily arena, Berkshire invests in opportunistic ventures in other real estate sectors through its Venture Investments group. Over more than four decades, Berkshire’s team of industry leaders has gained a reputation for being able to identify opportunities and effectively manage through various economic environments, establishing a long-term track record of solid performance based on thoughtful, leading edge strategies, and operational experience. The Company has experience in disciplines including acquisitions, portfolio and property management, debt, development and redevelopment. Berkshire, a registered investment advisor, is headquartered in Boston and has offices in Atlanta, New York, Baltimore, Dallas, Houston and San Francisco. As of March 31, 2016, Berkshire Group had approximately $6.3 billion in real estate assets under management. For more information on Berkshire, please visit www.berkshire-group.com.
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