Pension Fund Purchases Trillium for $200 Million

The California Public Employees Retirement System, the nation’s largest pension fund, acquired the Trillium, a 629,777-square-foot complex in the Warner Center development in Woodland Hills, for more than $200 million, according to Atlanta-based Equitable Real Estate Investment Management, which acted as adviser on the deal. The complex was sold by the developers of the property, Trillium Woodland Hills, a limited partnership that includes Fischbach Woodland Hills Properties Inc. and Kravetz-Terheggen Partners. Realty Bancorp will remain as property manager.

The complex includes twin 17-story office towers, plus retail space, a health club, swimming pool and tennis courts. The purchase also included a long-term lease to the 340-room Hilton Hotel and parking structure, which are part of the complex.

Major tenants in the Trillium, which was completed in 1986, include Transamerica, Amwest Insurance and Arthur Andersen.