Successful Wiltshire Blvd Office Building Acquisitions and Divestments

Mayer Separzadeh is a Los Angeles real estate entrepreneur who has overseen diverse residential and commercial projects since 1990 as head of Action Investment Group, Inc. Mayer Separzadeh’s projects include a pair of property acquisitions on Wiltshire Boulevard in the city’s mid-Wilshire area.

One 1995 transaction involved the $4.2-million purchase of a 13-story high-rise with office tenants. The building was only 17 percent occupied at the time of its acquisition. Prudent management, coupled with renovation and rehabilitation efforts, increased occupancy to 75 percent within a half year and to 90 percent within a year. The property was sold in 2007 for $38 million. 

A 1997 transaction involved the purchase of an office building spanning 13 stories. The Wiltshire Boulevard property went from 34 percent to 60 percent occupancy within two years, with capital improvements such as hallway remodeling, alarm system installation, and fire sprinkler work. With half a million dollars of capital having been put toward improvements, the property was sold at a significant profit in 1999.