Klaff Realty, together with JV partner, acquire site in Los Angeles for co-working space development
In August 2017, affiliates of Klaff Realty, LP and Bond Companies acquired a project site totaling approximately 90,875 square feet in Hollywood, California. The site is situated in a prime location just one block south of Sunset Boulevard, one block west of Western Avenue and one block east of US-101, in the heart of the new Hollywood development activity. The site is currently improved with a 31,860 SF building that was built in 1963 and a 30,000 SF building built in 1996; the 1963 building, which has design significance, will be fully renovated and updated, and the 1996 building will be demolished and replaced with a new building, both to be used as an integrated co-working facility.
Klaff Realty, LP: Founded in 1989, Klaff Realty, LP is a real estate and private equity company based in Chicago, Illinois that is an active investor in real estate and operating companies throughout the United States and Latin America. To date, Klaff Realty, LP (including through partnerships and entities managed by it or its affiliates) has acquired assets and invested in operating entities that control in excess of 200 million square feet with a value in excess of $17 billion.
Bond Companies: Since its founding in 1987, Bond Companies has developed over $2 billion of transit-oriented and infill developments including retail, multi-family, mixed-use, civic and hospitality projects. Bond Companies specializes in creating unique, trophy properties designed for institutional exits in high-barrier-to-entry markets. More specifically, Bond Companies has significant experience developing in Hollywood; the company’s award-winning Sunset & Vine project led the revitalization of the submarket and spurred billions of dollars of investment in Hollywood, and the company developed and still owns a retail center located one block north of the acquired site.