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Wednesday, Jul 24, 2024
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Dutch Real Estate Firm Buys Broadway High-Rise

Wereldhave USA, an international real estate investor with U.S. headquarters in New York, purchased one of downtown’s most prominent office high-rises for $210 million.

Broadway 655, recently renamed Advanced Equities Plaza after one of its major tenants, was bought by Wereldhave USA from Lankford & Associates Inc.

Wereldhave is a division of Wereldhave NV, a Dutch real estate investment trust.

The property on West Broadway and Kettner Boulevard is a 23-story, 380,000-square-foot, mixed-use development with parking for 750 cars.

The office was 80 percent leased at the time of sale, announced June 29.

Wereldhave anticipates leasing the remaining floor space by year end.

The acquisition is Wereldhave’s first property investment in the West Coast.

Wereldhave owns numerous properties in Belgium, Finland, France, the Netherlands and the United Kingdom, nine properties in Texas and eight in the Washington, D.C., area, according to its Web site.

Michael Kane, Kraig Kristofferson, Sara Rollins, Karen Scholte and Bob Smith of CB Richard Ellis’ San Diego and Newport Beach offices represented the buyer in the sale.

, Michelle Mowad

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