Fashion Nova Acquires Office In Beverly Hills From Tishman Speyer For $118M
SOLD
$118,295,195
+ 1
California
See Similar DealsOffice175,000 SF
Sold 08/30/2024
SOLD
Fashion Nova Acquires Office In Beverly Hills From Tishman Speyer For $118M
407 North Maple Drive
See Similar DealsOffice175,000 SF
Sold 08/30/2024
+ 1
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$676
Total Square Footage:175,000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$6,309,077.06
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$420,277.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$560,779.58
Annual Debt Service$6,729,354.91
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