Kim Kardashian's Skims HQ: Inside the $105M Sale of 1601 North Vine in Los Angeles

A Strategic Acquisition in the Heart of Hollywood

A high-profile Hollywood office building deal has officially closed, with a major brand name anchoring the property. Kingsbarn Realty Capital has acquired 1601 North Vine Street for $105 million, with Skims, the fast-growing shapewear company co-founded by Kim Kardashian, signing a long-term lease across the entire building.

Located in a prominent corridor of Hollywood, the 116,000-square-foot building was previously vacant following the departure of its former tenant in late 2022. Kingsbarn initially entered into a contract to purchase the asset in December 2022 and worked alongside a group of sellers to finalize the transaction ahead of the city's Measure ULA transfer tax implementation in early 2023.

At the time, the building was slated for a higher price, but shifts in capital markets and financing availability led to a renegotiated deal at $905 per square foot.

Financing and Lease Details

According to public property records and the company, Kingsbarn secured financing through a $52 million loan from Hankey Capital, with additional capital provided by Israeli-based IBI Volcano. While exact loan terms were not disclosed, the capital structure enabled the deal to move forward in today’s more challenging lending environment.

A major catalyst for the acquisition was Skims's signing of a 15-year lease for the entire building. The office commitment marks a significant real estate move for the $4 billion brand, further establishing its footprint in the heart of Los Angeles.

Process and Resolution

The transaction encountered delays throughout 2023 due to changing lending conditions and evolving ownership dynamics. During that time, Kingsbarn filed legal claims to protect its interests in the transaction. According to court filings, a judge cleared the path to closing, and the parties reached a reinstated agreement by the end of the year.

With the sale now complete, Kingsbarn plans to place the asset into a Delaware Statutory Trust (DST) and make it available to 1031 exchange investors through fractional ownership offerings.

Industry Perspective

“This purchase, along with our ability to secure financing for the building, is further evidence that the office market is recovering,” said Jeff Pori, CEO of Kingsbarn, in a statement. He noted that Skims represents a strong alignment with the building’s positioning and the evolving needs of creative office users in LA.

The deal showcases a broader trend: well-located, high-quality office assets in core markets still attract investment, particularly when supported by long-term, brand-aligned tenants.