Polsinelli Represents Farallon Capital Management in Sale of Historic Hawthorne Hangar Campus

Polsinelli recently represented Farallon Capital Management in the sale of the Hawthorne Hangar campus, a historic aviation property located at 3507 Jack Northrop Avenue in Hawthorne, California.

Farallon partnered with Jofa Capital and Urban Research Investment Corporation (UIRC) on the investment. In keeping with Jofa Capital's "funky and fragmented" investment thesis, the partners acquired the property out of bankruptcy in September 2023 for $13.35 million, leased it to a Fortune 50 company – with Polsinelli’s assistance – and sold it for $32.5 million in less than three years.

The approximately 41,000-square-foot hangar is located at Hawthorne Municipal Airport and holds significant aviation history as the original office and airport hangar of Jack Northrop, the pioneering aviation entrepreneur and founder of Northrop Corporation.

"This transaction brought together a unique asset and experienced investment partners," said Jed Bonner, the Polsinelli shareholder who advised Farallon on the matter. "We were pleased to represent Farallon in the successful sale of the Hawthorne Hangar campus.”

The Polsinelli team involved in this matter was led by Shareholder Jed W. Bonner and included Shareholder Emina Kwok as well as Associate Andrew J. Peterson.