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NAI Capital to Benefit from New Ownership Group

Encino-based NAI Capital Inc. got a new parent last month, one it expects to help drive growth beyond its 14 Southern California offices. C-III Capital Partners LLC announced in January that it closed its acquisition of NAI Global for an undisclosed price. C-III, based in Irving, Texas, offers commercial mortgage servicing, commercial real estate lending, investment management, brokerage services and title insurance. NAI Global will remain a separate company under its current management. NAI Capital Chairman Mike Zugsmith said C-III, led by CEO Andrew Farkas, founder of Insignia Financial Group Inc., will provide his firm with three basic benefits: an infusion of capital, the experience of industry leader Farkas and increased access to institutional clients. “NAI Global couldn’t provide us the pipeline of business that C-III can,” Zugsmith said. The acquisition is already proving beneficial for NAI Capital, he added. The company has added three new brokers since the announcement and is talking to about 20 more because of the opportunities the new mega-company presents them, Zugsmith said. NAI also expects its new parent to accelerate planned expansions, including the opening of new offices in Anaheim, in the Industry/Diamond Bar area and a satellite office in the Antelope Valley, Zugsmith said. Zugsmith said he couldn’t say specifically what products or services NAI Capital will gain from the acquisition: those will be revealed at NAI Global’s annual conference in Las Vegas during the second week of February. But at a minimum, he said, NAI Capital will likely gain technology that allows brokers to put together marketing presentations “with a touch of a button.” NAI Global should also see significant investments from C-III in its London, Manhattan and Singapore offices, he said. IMT Capital to Build 52 Luxury Apartments in Encino In its latest Valley move, Sherman Oaks-based IMT Capital LLC has purchased a parking lot from First Presbyterian Church of Encino and plans to build 52 luxury apartments. Groundbreaking is expected in about six months, and the units at the roughly $19-million project should open in about two years, IMT Capital Principal David Tedesco said. Tedesco declined to disclose the purchase price. With the deal, IMT continues to expand in the Valley. The company purchased the former Northridge Hospital Medical Center Sherman Way Campus last year for nearly $15 million. IMT used its second fund, announced last September, to acquire both properties. That fund included $350 million in committed equity from college endowments, pension funds and foundations. The new development at 4940 Paso Robles Ave. near Encino Park will include 44 two-bed, two-bath units and eight three bed, three-bath units, ranging from about 1,300 square feet to 1,700 square feet, Tedesco said. Although the units will be rented at first, Tedesco said they will be built with condominium standards so they can be sold in the future as the market improves. The rent will average about $2,800 a month, Tedesco said. Kaiser Permanente Takes More Space in North Hollywood Kaiser Permanente has signed a 10-year lease for 40,000 square feet at J.H. Snyder Co.’s nine-story office tower in North Hollywood. The healthcare company will take up the top two floors at 5250 Lankershim Blvd., bringing the building’s occupancy rate up to 90 percent, the Los Angeles-based developer said. “It’s good news for (North Hollywood) because it shows there is demand for the area,” Thomas Dujovne, chief investment officer for J.H. Snyder, said. The Class A building’s proximity to the Orange and Red Line stops helped lure Kaiser to the property, he said. Kaiser is set to open new medical offices during the summer of 2013, which will house about 18 primary care physicians, Kaiser spokeswoman Virginia Baca said. The offices will also offer lab work, health education, radiology and a pharmacy, Baca said. Kaiser chose the North Hollywood location for expansion so it could provide better access to the high concentration of members in the area, Baca said. The top two floors of the J.H. Snyder building have remained vacant since the firm opened the building in the summer of 2009. Now, there is about 16,000 square feet of vacant space left spread out over the sixth and seventh floors, Dujovne said. Law and professional firms have shown interest, he said. Staff Reporter Andrew Khouri can be reached at [email protected]. or at (818) 316-3124

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