Bolour Associates Doubles Its LA HQ, Expands Lending Business
By Alison Stateman June 19, 2019 11:45 am
Bolour Associates is making moves on both the ground and in their lending business. The privately-held real estate investment, development and finance company is expanding its headquarters in Beverly Hills as well as growing its lending business into 20 states and doubling its staff size by 2020, according to a company statement.
Bolour will be swapping out its current 4,000-square-foot suite at 8383 Wilshire Boulevard for an 8,000-square-foot suite at the same property in a lease signed late last month, said Mark Bolour, CEO for Bolour. The company will continue to house its finance, investment and development teams at the expanded headquarters. Bolour handled negotiations in-house with property owner, Douglas Emmett, in-house. “Over the years, we’ve evolved from our California roots and are now activating this strategy in key growth markets across the nation,” Bolour said in the statement. “The new headquarters gives us the space we need to expand our team and support our investment and development platforms in a growing list of gateway cities.”
The Los Angeles-based company’s expansion will include California, Texas, and Washington, D.C. in anticipation of tripling the size of the company’s private lending business. “This includes servicing a large clientele of individual family offices with short-term, yield-producing investment opportunities,” according to the statement. The company also expects to double its employee count — from 25 to 50 employees — by the end of 2020, with a focus on growing its lending and development functions, according to the release.
Bolour, which invests in value-add assets in emerging and transit-oriented neighborhoods, also plans to acquire more than $300 million in commercial real estate this year.