S.K. Hart gains California property

S.K. Hart Properties LC, based in Salt Lake City, has completed a transaction that it says is the largest single property deal in the country managed by the FDIC.

The company acquired Bayview Corporate Center in Newport Beach, Calif. Bayview is the former headquarters of Downey Savings and Loan. The property includes two six-story towers connected by a three-story atrium and a five-level parking structure.

Financial terms were not disclosed. The acquisition marks S.K. Hart Properties' entry into the Orange County commercial real estate market. S.K. Hart has been involved in commercial property management and has real estate holdings in Southern California and Utah.

S.K. Hart Properties is an affiliate of S.K. Hart Management, a private company with diversified investments in real estate and companies operating in various industries.