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Global alternative investment manager signs 12-year lease 206,000 sq ft at 1800 Avenue of the Stars
Upon completion, Anderson Towers, including Avenues of the Stars 1800 and 1900, will provide a best-in-class office environment featuring five acres of outdoor space.
Los Angeles, January 18, 2023–(BUSINESS WIRE)–Anderson Real Estate, a privately held, family-owned real estate development and management firm, today announced that Ares Management (“Ares”) has opened its currently redeveloped campus, Anderson announced that it will become the anchor tenant of Towers. Under construction in Century City, including 1800 and 1900 Avenues of the Stars. The tower is undergoing his $100 million major renovation, transforming it into a unique and landmark office environment unlike any other in the City of Los Angeles.
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Anderson Towers (Photo: Business Wire)
Ares Management, a leading global alternative investment manager based in Los Angeles since its inception in 1997, will relocate its Los Angeles-based team to 206,000 square feet of leasable space at 1800 Star Street in June 2024. increase. 12-year term, including naming rights for buildings.
Upon completion, Anderson Towers will feature panoramic views, access to unparalleled amenities, superior service, cutting-edge technology and five acres of expansive outdoor space at a globally recognized address. Tenants will have access to lush parkland landscapes of interconnected pathways, footbridge access to Westfield Century City Mall, and access to outdoor work and meetings.
“We are thrilled to transform these two properties into one of the city’s most sought-after places to work, and to welcome Ares, one of the most respected investment managers in the world. “We couldn’t be happier to be able to do this,” said William Anderson, Chairman and CEO of Anderson Holdings. A major win for an entire real estate group that had both fortitude and vision, this redevelopment is just one of the larger investments Anderson Real Estate is making across its Southern California portfolio. “
“The office of the future must be a space that attracts tenants by offering them something they can’t get at home. It is an integrated, eco-friendly and contemporary space that makes work more fulfilling.As the concept of how we interact with work continues to evolve, we create and What we do have is the type of space and amenities that forward-thinking companies look for in their employees.”
The Anderson Towers redesign is being led by David Montalba of Montalba Architects and Dillon Diers of OJB Landscape Architecture. EEI’s Tony Kantarjian leads development management. AllianceBernstein’s Peter Gordon and Taylor Callaway funded the project.
Anderson Real Estate was joined by Peter Best of LA Realty Partners and the CBRE team of Rocky Binswanger, Bryan Dunne and David Freitag on the transaction. Allen Matkins’ John Tipton acted as legal counsel for his Anderson Real Estate. Ares Management was represented by John Bertram of Savills and Scott Gertz of WESTMAC.
About Anderson Real Estate
Anderson Real Estate is a family owned, privately held real estate development and management firm with properties in Los Angeles, Ventura County, Hawaii and the US Virgin Islands. Today, Anderson’s portfolio exceeds 3 million square feet and consists of 55 properties across office, retail, mixed-use and industrial properties. For more information, visit andersonrealestate.com.
Anderson Real Estate is part of Anderson Holdings, a family-owned private holding company headquartered in Los Angeles with operations in Southern California, Hawaii and the U.S. Virgin Islands. For more information, visit andersonholdings.com.
About Ares Management Corporation
ARES Management Corporation (NYSE: ARES) is a leading global alternative investment manager, providing clients with complementary primary and secondary investment solutions across credit, private equity, real estate and infrastructure asset classes. We aim to provide flexible capital to support businesses and create value within our stakeholders and communities. By working together across our investment group, we aim to deliver consistent and attractive investment returns across market cycles. As of September 30, 2022, Ares Management Corporation’s global platform has approximately $341 billion in assets under management and more than 2,450 employees operating across North America, Europe, Asia Pacific and the Middle East.
View source version at businesswire.com: https://www.businesswire.com/news/home/20230118005365/en/
contact address
Anderson Real Estate Media:
Mickey Mandelbaum / John Perilli
Prosec Partners
(310) 709-8900 / (401) 316-3375
mmandelbaum@prosek.com / jperilli@prosek.com
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