Investors - MAY 16, 2018

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JV plans to acquire $500m in assets in next two years

by Jody Barhanovich

Harbor Associates and joint venture partner The Bascom Group plan to acquire $500 million in assets throughout the western United States over the next two years. The joint venture has already acquired office buildings in Los Angeles and Del Mar, Calif., in separate transactions totaling $37.4 million. The two companies have invested more than $250 million in a portfolio of 18 office buildings with an aggregate square footage of 1.2 million square feet in Southern California and Colorado over the past three years. The expansion of the joint venture platform is an example of the collaborative vision the two companies share, according to Bascom managing partner Jerry Fink. In the larger of the two acquisitions, the joint venture acquired a 75,000-square-foot office building at 4130 Cahuenga Blvd. in the Los Angeles submarket of Toluca Lake for $21.7 million. The business plan calls for a multimillion-dollar capital improvement program to modernize and refresh the as

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