Orrick Advises Westbrook on Industrial Acquisition with Sale Proceeds Going to Charity

July.29.2022

Orrick advised Westbrook Partners on the $37 million acquisition of Sherman Way Industrial Center in North Hollywood, California and the financing of the purchase by Wells Fargo. The Ben B. and Joyce E. Eisenberg Foundation, a charitable foundation primarily focused on medical research and the care of children and the elderly, sold the fully leased industrial park to a joint venture between Captiva Partners and Westbrook, with the plan to distribute all proceeds to various charities it supports. Located one block from the Hollywood Freeway, the 139,567 sq. ft. multi-tenant property consists of five industrial buildings with the majority of tenants specializing in the residential construction and home improvement industries.

The Orrick real estate team was led by Randolph Perry and assisted by Thayer Mullins and Charnay Jones.