Barings has acquired i|o at Playa Vista, a 306,809 square-foot creative workplace campus in Playa Vista, Calif., for $150.7 million.
Newmark represented the seller, Clarion Partners, and provided support on debt strategy and financing considerations throughout the transaction process.
The two-building, mixed-use, indoor-outdoor campus has attracted 78,000 square feet of new leasing during the past 24 months at market-leading rates, demonstrating its tenant appeal in a flight-to-quality leasing environment. The property, delivered in 2010 and completely redesigned by Gensler in 2016, has maintained an average occupancy level of more than 90 percent since it was redesigned.
The campus provides a compelling, collaborative indoor-outdoor workplace wrapped in a distinct architectural language that includes exterior stairways, large amenitized decks and abundant space amidst a serene interior landscaped courtyard. The property benefits from its cent
