Source: Santa Monica Daily Press —
The largest real estate deal in the city’s history closed this week with the sale of eight properties to New York based real estate company Tishman Speyer.
According to a statement from brokerage Walker & Dunlop, Tishman’s purchase of 3.1 acres from WS Communities is one of the largest entitled land sales on the West Coast and the largest in Santa Monica’s history. The sale price was not disclosed by press time.
In total, the downtown development portfolio includes 325,391 net rentable square feet, including 31,473 square feet of commercial space and 627 multifamily units – all of which are fully entitled and approved by city authorities.