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Lendlease, Aware Super buy L.A. site for $600m mixed-use development
Transactions - JANUARY 5, 2021

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Lendlease, Aware Super buy L.A. site for $600m mixed-use development

by Andrea Zander

Lendlease, in partnership with Aware Super, an Australian superannuation fund, has secured a 3.5-acre transit-oriented, mixed-use development site at 3401 S. La Cienega Blvd. in Los Angeles, with the two organizations each holding a 50 percent interest. The 500,000-square-foot mid-rise project will feature world-class architecture in close proximity to the rapidly growing Culver City submarket. It will include 260 multifamily residential units, 250,000 square feet of creative office space and ground-floor retail.

This project marks Lendlease’s, and the partnership’s, first development in Los Angeles and is further evidence of Lendlease’s specialized skill set in identifying attractive, market-advantageous development opportunities that are ripe for transformation and value conversion. The land was acquired for $92 million and the project will have an estimated end value of $600 million upon completion.

Located adjacent to the La Cienega/Jefferson light rail stati

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