Layton-Belling Creates Realty Fund
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Newport Beach real estate firm Layton-Belling & Associates has raised more than $215 million to buy commercial real estate for institutional investors and high-net-worth individuals, the company said Monday.
Creation of the LBA Realty Fund comes after a 12-month period during which LBA bought 15 industrial properties worth more than $180 million in Southern California through the completed LBA Industrial Fund 1.
Layton-Belling will use the new fund to leverage the acquisition of $600 million worth of office and industrial properties, primarily in Southern California, said Phil Belling, managing principal.
One of the first properties to be included in the new LBA Realty Fund is the Concourse, a 667,000-square-foot mixed-use industrial, office and flex property in the City of Industry.
Roger Vincent
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