IRVINE, Calif., (May 13, 2010) - Thompson National Properties, LLC, one of the fastest growing international real estate companies, announced today that they raised $16,570,000 for the Kodak Hollywood Campus in Los Angeles, California, closing its fully subscribed Delaware Statutory Trust (DST) Program with a total of 103 investors.
"Thanks to our broker-dealer partners and their advisors for their tremendous support in completing this $16,570,000 transaction on a very timely basis," said Thompson. "Kodak's commitment to this location for the last 80 years along with the very attractive purchase negotiated by TNP at the depth of the credit crisis makes for a very attractive return for investors."
The Kodak Hollywood Campus is a Class A property located in the Hollywood submarket of Los Angeles. The two-building campus consists of office and production facilities, totaling approximately 102,800 square feet. The campus is situated on 2.97 acres and is 100 percent leased to Eastman Kodak. Eastman Kodak has been at this location for over 80 years and has invested over $10 million in the past several years to modernize these facilities.
The three-story office and production facility, 1017 N. Las Palmas Avenue, is approximately 83,950 square feet and was built in 1994. This property includes screening rooms, editing bays, recording facilities, cabling and infrastructure. The two-story office building, 6700 Santa Monica Boulevard, is approximately 18,850 square feet and was constructed in 1928, renovated in 1985 and expanded in 1987.
Thompson National Properties, LLC provides real estate investment opportunities and asset management to high net worth domestic, foreign, individual and institutional investors. As of May 13, 2010 Thompson National Properties manages a portfolio of 134 commercial properties, in 31 states totaling more than 17.1 million square feet, on behalf of over 3,000 investor/owners with an overall cost of $2.3 billion. For more information regarding Thompson National Properties, please visit www.tnpre.com.
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