Swig Co JV Picks Up Miracle Mile Office Tower for $150M
The Swig Co and Intercontinental Real Estate Co have purchased the 22-story office tower at 6300 Wilshire. The price of the sale wasn't disclosed, but Bisnow sources peg the deal at about $150M. Swig Co EVP of investments Tomas Schoenberg (snapped here with his college-bound daughter Arabelle) says the location of the 408k SF office made the deal most attractive, adding that its "ample parking, large floor plates, and lower cost structure make it a very compelling business location for entertainment, media, advertising and other creative companies."
Intercontinental made the investment with Swig on behalf of its latest managed fund, which has investments in more than 80 commercial assets nationwide. This is the second time the two firms have teamed up, having acquired Bristol 61, a creative office campus in Culver City, late last year. Legacy Partners is the seller, which was repped by Eastdil's Stephen Somer.
