KWP Brokers $112M Medical Office Sale

In February 2017, the University of Southern California acquired Doheny Eye Institute (DEI), a 148,247-square-foot medical office building owned by UCLA at 1450 San Pablo Street on the USC Health Sciences Campus in Los Angeles, for $112,000,000. KWP represented UCLA in the transaction along with colleagues at Charles Dunn Company. USC was the sole tenant in the building, which is home to world-class clinical practices for Keck Medicine of USC, as well as groundbreaking research for the Keck School of Medicine of USC. That, in conjunction with the building’s location in the center of USC’s Health Sciences Campus, made it an important acquisition for the university. DEI was affiliated with USC for four decades until 2012, when the university ended the relationship and signed a 99-year agreement the following year tying it to UCLA. The sale of 1450 San Pablo Street ultimately resolved legal disputes between the two parties.