Platform Venture's opportunistic investment strategy aims to take advantage of complex situations and asset inefficiencies in all market conditions. We have a flexible mandate to invest selectively across the capital structure in middle-market real estate equity or debt transactions through direct acquisitions, recapitalizations, and reorganizations.
We believe this approach provides attractive investment opportunities often overlooked relative to large auction transactions and widely followed offerings. Additionally, Platform Ventures focuses on transactions in which we maintain control and have significant influence to drive returns for our investors.
Our history of active leadership as value-added investors is enriched by the firm’s deep network throughout the real estate industry and operating resources within its core platforms. Platform Ventures has the ability to take advantage of market dislocations, reposition out-of-favor properties, and restore companies and properties in transition across different phases of the economic cycle while improving operations and creating value for our stakeholders.
TORRANCE TECHNOLOGY CAMPUS
INVESTMENT VEHICLE: Fund IV
LOCATION: Los Angeles Metro
YEAR ACQUIRED: 2016
PROPERTY: Office/industrial asset totaling 573,167 square feet
Torrance Technology Campus is an office/industrial asset totaling 573,167 square feet located in Torrance, CA (Los Angeles Metro) that was sourced through a local leasing broker relationship
The asset was purchased in September 2016 with approximately 70% occupancy
VALUE CREATION STRATEGY
The investment presented an opportunity to purchase a well-located asset below replacement cost in a supply constrained market (Los Angeles Metro)
Leveraged the leasing relationship to secure a new 15-year, ~460,000 square foot lease with the largest tenant expanding its footprint in the property by an additional ~120,000 square feet by committing to address significant deferred maintenance at the property
Executed a 5-year, ~60,000 square foot renewal lease with another tenant, pushing occupancy up to ~91%
After executing the property renovation and tenant improvements, we sold the building in January 2019 for approximately 1.9x our original purchase price