$475-Million Deal Reflects Playa Vista’s Rise as a Tech Hub

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LA Times

By Andrew Khouri

A mixed-use project envisioned as Playa Vista’s downtown has been sold to a Dallas investment firm for a reported $475 million, cementing the master-planned community’s rise as a residential neighborhood and technology hub.

The steep price for Runway Playa Vista — a retail, residential and office development that cost about $300 million to develop — shows what can happen when tech giants like Facebook, YouTube and Microsoft come to town.

Investors are banking on those companies luring highly educated and highly paid workers to the burgeoning community as it nears completion.

Read more at http://www.latimes.com/business/la-fi-playa-vista-runway-20160210-story.html

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