SeaRise Office Tower, or 233 Wilshire Boulevard, is a premier Class A office building located in the central business district (CBD) of Santa Monica, California. The building was constructed in 1976 and has approximately 128,651 square feet in nine floors. The building was named "SeaRise Tower" for its prominent ocean and mountain views, and is also located adjacent to the shops, restaurants and dining options of 3rd Street Promenade.
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Overview
233 Wilshire Boulevard is located a few blocks from Santa Monica State Beach and the Pacific Ocean. It is also adjacent to the Santa Monica History Museum and upscale 3rd Street Promenade, which a shopping, dining and entertainment complex.
The office building has a full-height, black glass curtain wall exterior with finished aluminum window frames. It has a 385-stall subterranean parking garage, floor-to-ceiling windows, 24-hour controlled access, banking, food service, convenience store, security and management. The building also has a renovated lobby and common areas.
Office tenants of SeaRise Tower include Luther Burbank Savings, Tunnel Inc, Hirschfield Kramer LLP, GoodRX, Enenstein & Ribakoff and Barrister Executive Suites, Inc.
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History
Blackstone Group LP
New-York based investment firm, Blackstone Group LP, purchased the asset through its buyout of Equity Office Properties Trust in 2007. Equity Office's total portfolio consisted of 542 properties for a total of $39.21 billion.
Blackstone specializes in "private equity, real estate, hedge fund solutions, non-investment grade credit, secondary funds and other multi-asset class strategies".
2016 trade
In October 2016, a joint venture between Douglas Emmett and Qatar Investment Authority (QIA) purchased the building from the Blackstone Group for $1,082 per square foot, or $139.5 million total.
Douglas Emmett and QIA have a growing relationship and jointly own a number of other assets in California, including 12100 Wilshire Boulevard and the Westwood Office Tower complex consisting of 10960 Wilshire Boulevard, 10940 Wilshire Boulevard, 10880 Wilshire Boulevard and 1100 Glendon Avenue.
Douglas Emmett (DEI)
Founded by Dan Emmett and his partners as three separate companies between 1971 and 1991, Douglas Emmett, Inc. (DEI) is now a publicly traded company on the New York Stock Exchange and lists its profile on the website as "we own and operate approximately 17.6 million square feet of Class A office space and 3,336 apartment units within the premier coast submarkets of Los Angeles and Honolulu".
Douglas Emmett owns roughly 27% of the Class A office space in Los Angeles and 34% of the CBD Class A office space in Honolulu. It is headquartered in Santa Monica, California.
Source of the article : Wikipedia
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