Lincoln Wraps Up Culver City Acquisition

National real estate giant Lincoln Property Co. completed the acquisition of the 16-building Park Place office complex in Culver City’s Fox Hills district for just under $17 million. The acquisition is the third in the Culver City-Marina del Rey area that Lincoln has made through its co-investment program with the Goldman Sachs & Co.-managed Whitehall Street real estate fund. The seller of the 160,000-square-foot complex--which is about 70% leased--is a client of the Koll-Bren investment advisory firm in Newport Beach. The seller had considered selling the 16 buildings separately before negotiating the deal with Lincoln, said Lincoln representative Erik Hansen.