Omninet Capital

Omninet is operated by Kadisha, a Beverly Hills resident, who was ranked No. 34, with a net worth of $1.2 billion, on the Business Journal's Wealthiest Angelenos list in May. It has been paying cash for underperforming commercial properties of more than 50,000 square feet and valued at more than $5 million in California and the Southwest. Kevin Shannon, vice chairman in CBRE Group Inc.'s El Segundo office who represented the seller, said it was a competitive bid process to sell the building. He gave 15 tours of the property to potential buyers and received 11 offers on the property, with Omninet coming out above the rest. "It was Omninet's $10 million deposit that put them ahead of other offers," he said. "Their ability to close quickly and on an all-cash basis allowed them to distinguish themselves from other investment firms competing for this deal." The sale was the second largest in Long Beach since 2007, when 1 World Trade Center sold for $149 million. It follows only the $81 million sale last year of the former Arco Center at 200 and 300 Oceangate, which the same CBRE team brokered. Michael Moore, Dave Smith and Bill Bloodgood at CBRE also represented the seller.