Amstar Sells Class A Office Campus in Thousand Oaks, California

Thousand Oaks, California (January 12, 2014)  –  Amstar announced today the sale of  the first  phase of  Westlake Park Place, a 5-building  239,000 sf  premier  Class A  office campus located in  Thousand Oaks,  California  for  an  undisclosed  amount.  CBRE  handled  the  sale  for  the  ownership  group.    Amstar,  in   partnership with  The Travelers Companies, Inc. and Searles Property  Group, delivered the 5 buildings in  Phase  I  in  December  2008  and stabilized the project  in  2013.  “Our  ability  to  lease this  project  at  the
highest rates in the submarket during a recessionary time period speaks to  the fact that it is the best-in-
class  office  project  in  all  of  Ventura  County  and  the  Conejo  Valley.    We  believe  it  provides  an
exceptionally  high-quality,  low-risk  investment  opportunity,”  said  Amstar  Managing  Director,  Kim
Sperry.
Westlake Park Place is 97% leased and has attracted  some of  the region’s highest quality tenants. The
Property,  located  at  2915,  2931,  2945,  3011,  and  3027  Townsgate  Road,  provides  tenants  with
advantageous  image and brand enhancement as evidenced by its outstanding tenant roster.  The property
features timeless architecture  with elegant lobbies and common areas, a 4/1000 parking ratio, and private
balconies.
Westlake Village has strong barriers to entry resulting in severe supply constraints.  With the exception of
the  Property’s  Phase  II  site  (not  included  in  the  sale),  virtually  no  entitled  development  sites  for  new
office projects exist in Westlake Village  or Thousand Oaks, and less than 260,000 sf  is  entitled for office
development in the entire Conejo Valley.
Mike  Foxworthy  and  Tom  Festa,  DAUM  Commercial  Real  Estate  Services,  lease  the  project  for  the
ownership group.    “Westlake Park Place truly elevated corporate life in the Conejo Valley which has
been  the  goal  of  the  project  from  the  onset.   It  has  been  a  true  honor  representing  the  outstanding
ownership team during the entire leasing of this upscale corporate headquarters development in addition
to working with sophisticated international, national, and local tenants,” stated Foxworthy and Festa.
Phase II of the  project  broke ground in November  2013  and will feature three buildings totaling 223,000
sf. The first building  in Phase II, four stories totaling 102,000 sf, is 80% preleased, and is expected to be
delivered in early 2015.
About Amstar
Established in 1987 and headquartered in Denver, Colorado, Amstar is a real estate investment manager
that acquires, develops and manages office, multifamily, retail, hotel and industrial properties in select
U.S.  and international  markets.   Originally  formed to  invest  and  manage  the real  estate  allocation  of  a
large family office client, Amstar began expanding its capital strategy nearly a decade ago and has grown
to more than $2.5 billion in assets under management (as of June 30, 2013).    Today, Amstar is proud to
provide a high degree of focus and attention to its client relationships, counting among them leaders in the
private  and  institutional  investment  community.   Amstar’s  clients  originate  from  across  the  globe  and
include  U.S.  and  European  institutions,  insurance  companies,  private  banks,  funds  of  funds ,  and  other
family offices.
About Travelers
The Travelers Companies, Inc. is a leading provider of property casualty insurance for auto, home and
business.