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
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