*1601 Vine Street, Los Angeles, California* \ **Los Angeles, California (April 2, 2025) —** Kingsbarn Realty Capital (“Company” or “Kingsbarn”) has announced the acquisition of 1601 Vine Street in Los Angeles, California (the “Building” or “Property”). The beautiful steel and glass structure, developed by J.H. Synder Company and designed by Ware Malcomb, offers over 115,000 square feet of office space and five levels of underground parking. The building serves as the corporate headquarters for Skims Body, Inc. (“Skims”), an American shapewear and clothing brand, co-founded in 2019 by Kim Kardashian and Swedish entrepreneur, CEO Jens Grede. \ Kingsbarn was set to purchase the Property in March of 2023, but the collapse of Silicon Valley Bank and Signature Bank of New York shook the capital markets and thwarted the Company’s attempts to secure financing. Kingsbarn, however, continued to pursue the purchase of the Property and was finally successful earlier this week. Kingsbarn CEO, Jeff Pori stated, “This purchase, along with our ability to secure financing for the building, is further evidence that the office market is recovering, a trend we expect to continue and to even accelerate. As state and federal workers continue to return to the office, we have also seen a great majority of private companies demand that their workers return to the office as well. Notably, the region's office construction activity has moderated, with new developments representing less than 1% of existing space. We expect this trend to continue to enhance the health and the overall occupancy within the sector.” \ Skims began to occupy the Building in mid-2023 and leases the Property through mid-2038. Kingsbarn, according to Pori, will offer ownership interests in the building in a Delaware Statutory Trust (“DST”) structure so that private investors can complete a 1031 exchange by purchasing fractional ownership interests in the Building. “The combination of the location at Hollywood and Vine, the magnificent design, the perfect Hollywood tenant, and the long-term lease, makes for a winning investment opportunity for California investors,” said Pori. “We are very excited to be able to acquire a property with such a burgeoning company and successful brand as Skims.” \ In 2021, Wall Street Journal Magazine presented Kardashian with a “Brand Innovator” award for her work as Chief Creative Officer for Skims. Skims, named one of the Most Influential Companies of the year in 2022 and 2023 by Time Magazine, had an estimated valuation of $4 billion in July of 2023 after raising $270 million in a Series C funding round. On February 18, 2025, Skims and Nike announced that they are teaming up to disrupt the global fitness and activewear industry with the launch of NikeSKIMS, a new brand that will deliver industry leading innovation. The long-term partnership will introduce an extensive product line that invites more athletes and women into the world of sport and movement. Kardashian stated, "This partnership is the culmination of that shared vision, delivering a product that is meticulously designed to sculpt and perform for every body. We're incredibly excited to unveil our first collection this spring." \ “There were many key players involved in this acquisition,” said Pori. “Our team included Hankey Capital of Los Angeles, who provided the first mortgage in under two weeks when other lenders could not. IBI Volcano Investments provided additional equity and was an integral part of our capital structure. Lastly, even though they represented the seller, Kevin Shannon and his team at Newmark deserve our appreciation for keeping this deal moving forward despite the challenges posed to us by volatile capital markets.“ \  \ **ABOUT KINGSBARN REALTY CAPITAL**\ Kingsbarn Realty Capital is a real estate-centric investment house that provides institutional and accredited investors access to an array of alternative investments. Kingsbarn offers investments in private equity, exchange-traded funds, traditional investment funds, private capital, managed accounts, and Delaware Statutory Trusts (DSTs). Additionally, Kingsbarn’s management team has wide-ranging experience developing, managing, operating, and sponsoring a diversified portfolio of stabilized, income-driven properties as well as ground-up construction, value-added offerings, opportunity zone investments, and entitlement projects. Kingsbarn has over $2.3 billion of assets under management and has acquired over 310 properties throughout the United States. The company currently has a development pipeline of over $2 billion consisting of multifamily, student housing, medical, industrial, retail, and hospitality. For further information, visit [www.kingsbarn.com](https://www.kingsbarn.com). \ **ABOUT HANKEY CAPITAL**\ Hankey Capital is a private direct lender originating bridge financing in the $5 million to $300+ million-dollar range senior secured by real estate located in the coastal communities of southern California and southern Florida. They specialize in time-sensitive and value-added deals underserved by banks and other traditional capital sources. In addition, Hankey Capital offers structured finance solutions (including Debtor in Possession financing), totaling with over $1 billion funded in the past three years. Hankey Capital is part of the Hankey Group of Companies based in Los Angeles. Currently, Hankey Capital has over $1.5 billion in loans on its balance sheet. For more information about Hankey Capital visit: [www.hankeycapital.com](https://www.hankeycapital.com). \ **ABOUT IBI VOLCANO INVESTMENTS**\ IBI Volcano Investments LLC is a subsidiary of IBI Investment House LTD. The company, established in May 2021, has its headquarters in Tel Aviv, Israel, with an additional office in the State of Maryland in the United States. The company specializes in bridge financing for transactions ranging in size between $5 and $30 million, targeting senior loans, special situation acquisitions, 1031 exchanges, and other recapitalization of income-generation real estate. With an impressive track record of financing over 131 transactions totaling $2 billion across more than 30 states, the company has become one of the top choices for income-generating real estate companies in the United States seeking financial solutions. For more information about IBI Volcano Investments visit: [www.volcanobridge.com](https://www.VOLCANOBRIDGE.com). \ **Kingsbarn Media Contacts:** \ Emma Williams & Holly Silvestri \ The Ferraro Group (702) 367-7771 \ [emma@theferrarogroup.com](mailto:emma@theferrarogroup.com) \ [holly@theferrarogroup.com](mailto:holly@theferrarogroup.com)
