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Invesco Closes on $98M Acquisition of Westlake Park Place

JV Sells Five Bldg Campus in Westlake Village
January 22, 2014
Atlanta, GA-based Invesco Real Estate acquired the five-building Westlake Park Place office park at 2915-3027 Townsgate Rd. in Westlake Village, CA for $98.025 million, or about $410 per square foot, from Amstar Advisers LLC, The Travelers Companies, Inc., and Searles Property Group.

The Westlake Park Place office campus was delivered in 2008 on 14 acres in the Thousand Oaks/SE Ventura County submarket. The office campus totals 238,943 square feet across five buildings standing one to four stories tall.

The asset was 94 percent occupied at the time of sale.

Kevin Shannon, Ken White, Tom Bohlinger, Brad Burton and Mike Longo of CBRE represented the sellers. The buyers handled the acquisition in-house.

Please see CoStar COMPS #2933102 for more information on this transaction.

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