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Jason Illoulian And Frank Zarabi Acquire Office Asset From Tishman Speyer For $90 Million

Property Image
SOLD
$90,000,000

California

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Office134,000 SF
Sold
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Property Image
SOLD

Jason Illoulian And Frank Zarabi Acquire Office Asset From Tishman Speyer For $90 Million

9242 Beverly Boulevard

See Similar Deals
Office134,000 SF
Sold
Contact now

Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$671
Total Square Footage:134000 SF
Transaction Type:Sale

The property involved in this transaction is an office asset located at 9242 Beverly Boulevard in Beverly Hills. The sale price of the property was $90,000,000, with a total square footage of 134,000, resulting in a price per square foot of approximately $671.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $90,000,000
  • Address: 9242 Beverly Boulevard
  • Market: Beverly Hills
  • Square Footage: 134,000
  • Price per Square Foot: $671
  • Buyer: Jason Illoulian - Faring & Frank Zarabi - Envision Collection
  • Seller: Tishman Speyer
  • Broker Representatives: Bob Safai & Matt Case - Madison Partners

The transaction featured key individuals and companies, with the buyers being Jason Illoulian representing Faring and Frank Zarabi representing Envision Collection. The sellers were Tishman Speyer, with the deal facilitated by brokers Bob Safai and Matt Case from Madison Partners, representing the sellers in this significant transaction.

Players

16 deals$878.3M volume(310) 442-3399
BROKER

Matt Case
7 deals$413.7M volume(310) 779-3395
BROKER

Madison Partners
BROKERAGE

Details

SOLD
IMAGE: Bob Safai & Matt Case DATE: 12/18/2024 ADDRESS: 9242 Beverly Boulevard MARKET: Beverly Hills ASSET TYPE: Office BUYER: Jason Illoulian - Faring & Frank Zarabi - Envision Collection SELLER: Tishman Speyer (@TishmanSpeyer) BROKERS: Bob Safai & Matt Case - Madison Partners SALE PRICE: $90,000,000 SF: 134,000 ~ PPSF: $671

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$4,800,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$319,750.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$426,645.92
Annual Debt Service$5,119,750.99