A Lennar-backed joint venture has acquired the former Von Karman Creative Campus for $232 million.
TPG Angelo Gordon and Essential Housing Asset Management, affiliated with Lennar, purchased a 24-acre, nine-property portfolio totaling 433,000 square feet from IRA Capital LLC, according to CoStar.
CoStar reported that the property was sold for “land value” with a proposed use for single-family development.
The Von Karman Corporate Center, formerly an office campus in the Irvine Business Complex, has been under demolition for weeks.
For further details, see the Feb. 16 edition of the OCBJ.
