LaSalle Investment Management Acquires Office Building On Wilshire Boulevard In Beverly Hills For $74.4M
SOLD
$74,400,000
+ 2
California
See Similar DealsOffice49,721 SF
Sold 03/25/2021
SOLD
LaSalle Investment Management Acquires Office Building On Wilshire Boulevard In Beverly Hills For $74.4M
9033 Wilshire Boulevard, Beverly Hills, CA, USA
See Similar DealsOffice49,721 SF
Sold 03/25/2021
+ 2
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$1,496
Total Square Footage:49,721 SF
Transaction Type:Sale
The office property located at 9033 Wilshire Boulevard in Beverly Hills was recently sold in a transaction. The property spans approximately 49,721 square feet and has an asset type of office. The sale took place on 03/25/2021 at a price of $74,400,000, resulting in a price per square foot of $1,500.
Summary of transation details
- Property Type: Office
- Transaction Amount: $74,400,000
- Address: 9033 Wilshire Boulevard
- Market: Beverly Hills
The buyer in this transaction was Glenn Sonnenberg from LaSalle Investment Management. The seller was UBS Realty Investors. The deal was facilitated by Kevin Shannon, Rob Hannan, Ken White, Laura Stumm, and Steven Salas from Newmark acting as brokers for the transaction.
Players
BROKERAGE
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,967,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$264,327.49
Cash-on-Cash Return-1.27%
Monthly Debt Service$352,693.96
Annual Debt Service$4,232,327.49
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