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Tuesday, May 30, 2023

Countrywide Sells Office Building for $16M

CALABASAS, CA-Countrywide Home Loans Inc. has sold an 86,000-square-foot office building here to Agoura Hills, CA-based DTS Inc. for $15.6 million in a short-term sale-leaseback. The office building, at 5220 Las Virgenes Rd., will serve as the new corporate headquarters for the digital technology entertainment company, which has leased the building back to Countrywide through January 2009. According to Gary Weiss and Lynwood Fields, principals at Los Angeles-based Madison Partners who represented Countrywide in the sale, the building represented a value-add opportunity offered at below replacement cost that attracted nine offers within 30 days before the seller struck a deal with DTS. The buyer was represented by Carlo Brignardello and Mathew Miller of Cresa Partners. For the full story click here

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