Los Angeles, CA – October 7, 2015 – (RealEstateRama) — Campus to become first LA home to Stratford School, a Silicon Valley based private school offering classes for preschool through middle school students
Global real estate investment and services firm Kennedy Wilson today announced its representation of the seller in the sale of a 1.2-acre school campus, located at 1200 N. Cahuenga Blvd. in Los Angeles. The buyer was Stratford School, an 18-campus, WASC-accredited private school based in Silicon Valley. Stratford School offers classes for students from preschool through middle school, and plans to open the Los Angeles area location in August 2016.
Christine Deschaine, senior vice president of Brokerage at Kennedy Wilson and Fred Cordova, executive vice president, represented the seller, Tekeyan Cultural Association, an international Armenian cultural organization dedicated to the advancement of the Armenian Culture. The association operated the TCA-Arshag Dickranian Armenian School and cultural center at the property until its sale. Further details of the transaction were not disclosed.
“It is a rarity to find a move-in ready school in Los Angeles, where a majority of property sales are followed by heavy work on the buyer’s end as they transform the space to fit their distinct needs,” said Deschaine. “New development in the area is primarily reserved for hotels, retail and condos, further limiting options for those in education. Due to Kennedy Wilson’s strong relationship with the Tekeyan Cultural Association, we knew we couldn’t ask for a better match for both schools when we were presented with this unique selling opportunity.”
The property is located in the heart of Hollywood and features two buildings totaling 30,200 square feet, subterranean parking, an outdoor play area and a theatre. The seller owned and operated the previous school since 1981, and the buyer plans to display a permanent monument on campus paying tribute to the Armenian cultural heritage as a nod to its previous owner.
About Kennedy Wilson
Founded in 1977, Kennedy Wilson is a vertically integrated global real estate investment and services company headquartered in Beverly Hills, California, with 25 offices in the U.S., U.K., Ireland, Spain, Jersey and Japan. The company, on its own or with partners, invests opportunistically in a variety of real estate-related investments, including commercial, multifamily, loan purchases and originations, residential and hotels. Kennedy Wilson offers a comprehensive array of real estate services, including investment management, property services, auction, conventional sales, brokerage and research. For further information on Kennedy Wilson, please visit www.kennedywilson.com.