MARIN COUNTY, Calif., Nov. 6, 2019 /PRNewswire/ -- ScanlanKemperBard (SKB) and Independencia have announced the sale of Hamilton Landing, a landmark Class A creative office campus comprised of seven fully-renovated buildings situated on 19.6 acres in Marin County. The property was acquired by Kennedy Wilson on October 31, 2019 for $115 million, including the assumption of $60 million of debt.
The 409,191 square foot property was originally developed as Hamilton Field Air Force Base in the 1930's, and has since been transformed from historic airplane hangars into a premier creative office campus. Hamilton Landing overlooks protected wetlands, and the property's open ceilings and collaborative spaces have attracted a diverse roster of tenants, including many globally-recognized companies.
SKB and Independencia purchased Hamilton Landing in 2015. Since that time, ownership has leased the property to 92% occupancy, and increased NOI by 62%.
According to SKB President, Todd Gooding, "Hamilton Landing has been one of the true gems in the SKB portfolio. Kennedy Wilson is the right owner to continue the property's fine tradition and ensure its success for many more years."
SKB is an established real estate merchant banking firm based in Portland, Oregon. Since its inception in 1993, SKB has originated total portfolio activity of $4.47 billion, including equity invested of $1.58 billion, comprised of 29.3 million square feet of office, industrial and retail space and 2,154 residential units. With longstanding relationships in each of their markets, SKB has the ability to source, structure and execute value creation across a wide spectrum of real estate opportunities. Visit SKB online at www.skbcos.com to learn more.
About Independencia Asset Management LLC ("IAM")
IAM is a real estate asset management firm headquartered in Miami with an additional office in Boston. Since incorporating in the United States in 2004, IAM has invested in more than 18 million square feet of core-plus and value-add office, retail and industrial assets in 19 states with 10 different local operating partners. To date, IAM has invested in over $3 billion worth of real estate assets through 50 different SPEs. IAM's current portfolio consists of approximately $2.3 billion of assets under management through 32 different SPEs.
IAM's parent company, founded in Santiago in 1990, currently manages the largest real estate investment fund in Chile and is considered the country's industry leader in terms of size and fund yields. For more information, please visit www.independencia-sa.cl
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