Gone Hollywood: Investors are looking for property in the area’s hot office market.

Gone Hollywood: Investors are looking for property in the area’s hot office market.

The property, at 1090 Atlantic Ave., was sold to a private investor based in Berkeley. The outpatient clinic is across the street from Dignity Health’s St. Mary’s Medical Center.

“Due to the increase in multi-family development and the population surge in the area, we felt this downtown location was a perfect opportunity for our client to operate an outpatient facility that would provide a life-saving treatment to the growing community,” said Mike Conn, Meridian executive vice president, in a statement.

Matthews Real Estate Investment Services’ Rahul Chhajed and Michael Moreno represented the buyer. Meridian was self-represented.

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COLORADO FUND TO INVEST IN CALIFORNIA PROPERTIES

Out-of-state companies are eager to invest in California’s real estate market, with Denver-based Northstar Commercial Partners the latest to announce its interest.

The company said April 16 that it launched a $125 million fund, and it plans to invest 75% of that money in value-add properties and 25% on cash-flowing investments in Western markets, including in California.

The fund is a partnership with Colorado Springs-based Integrity Wealth Advisors.

“We believe real estate investing can be a safe haven during slower economies,” said Integrity President Eric Davis in a statement.

Staff reporter Hannah Madans can be reached at hmadans@labusinessjournal.com or (323) 556-8337

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