Berkeley Point Capital Renews Lease At SeaRise Office Tower In Santa Monica
Posted Jul. 24, 2013, 9:19 am
Brenton Garen / Editor-in-Chief
The SeaRise Office Tower at 233 Wilshire Boulevard in Santa Monica will continue to be home for commercial real estate finance company Berkeley Point Capital LLC after it signed a five-year lease renewal.
Meanwhile, Santa Rosa, CA-based portfolio lender Luther Burbank Savings will open its seventh California branch after it signed a long-term lease for 11,586 square feet at SeaRise Office Tower.
Industry Partners represented landlord Equity Office in the transactions that total more than 16,000 square feet in the tower.
Berkeley Point, a SeaRise tenant since 2002, will continue to occupy 4,523 square feet on the building’s fifth floor.
Berkeley Point is the second largest originator of Fannie Mae loans, and services a $29 billion multifamily loan portfolio. The firm also has offices in Bethesda, MD; Boston, MA, Columbus, OH; Dallas, TX; Irvine, CA; Nashville, TN; and Seattle, WA.
The SeaRise Office Tower is a nine-story, 124,000-square-foot building distinguished by its black glass curtain wall.
Built in 1975, a multimillion-dollar renovation of the lobby and common areas were completed in 2009. SeaRise Tower is now 94 percent leased.
Industry Partners’ Jim Jacobsen and Scott Rigsby along with Tim Dornan of Avison Young represented the landlord in both transactions.
Ryan Harding of Newmark Grubb Knight represented Luther Burbank Savings and Clay Hammerstein and Danny Rees of CBRE represented Berkeley Point.