Drawbridge Realty Acquires Arboretum Gateway from Clarion Partners

Arboretum Gateway, which is fully leased to Universal Music Group for its Santa Monica headquarters, was acquired by Drawbridge Realty from Clarion Partners for $185 million, or $819 per square foot. Located at 2220 Colorado Ave. in Santa Monica, the 225,773-square-foot building is leased through July 2036.

“There was a deep bidder pool of both domestic and foreign buyers,” said Kevin Shannon, Newmark co-head of U.S. Capital Markets, who represented the seller along with Alex Foshay, Ken White, Rob Hannan, Laura Stumm and Michael Moll.

The property features two recording studios, outdoor usable decks, 13-foot ceiling heights with polished concrete floors and multiple large conference rooms.

The buyer, San Francisco-based Drawbridge Realty, partnered with KKR/Global Atlantic.