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407 North Maple Drive

Fashion Nova Acquires Office In Beverly Hills From Tishman Speyer For $118M
SOLDOffice

Fashion Nova Acquires Office In Beverly Hills From Tishman Speyer For $118M

407 North Maple Drive

$118,295,195

$676/SF

Building Size

175,000 SF

Asset Type

Office

Closing

Aug 30, 2024

AI

The property asset involved in this transaction is an office building located at 407 North Maple Drive in Beverly Hills. It was sold for a price of $118,000,000, which translates to a price per square foot of $674. The total square footage of the asset is 175,000.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $118,000,000
  • Address: 407 North Maple Drive
  • Market: Beverly Hills
  • Square Footage: 175,000
  • Price per Square Foot: $674
  • Buyer: Fashion Nova
  • Seller: Tishman Speyer
  • Broker Representatives: Mike Condon Jr, Erica Finck, Reid Gratsch & Kylie Rawn - Cushman & Wakefield

The transaction involved key individuals and companies, including Fashion Nova as the buyer and Tishman Speyer as the seller. The brokerage firm Cushman & Wakefield represented the deal with their brokers Mike Condon Jr, Erica Finck, Reid Gratsch, and Kylie Rawn facilitating the transaction.

Players

Mike Condon Jr.

Cushman & Wakefield

Broker

$1.2B

vol

26 deals

Broker

Beverly Hills Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.13%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93