LVMH Acquires Retail Property In Beverly Hills For $30M From Seller Bernard Arnault
449 N Beverly Dr, Beverly Hills, CA 90210, USA
$30,000,000
$5,000/SF
Building Size
6,000 SF
Asset Type
Retail
Closing
Jul 7, 2020
AI
LVMH, represented by Bernard Arnault, has acquired a retail property at 449-453 N. Beverly Drive in Beverly Hills for a price of $30,000,000. The property spans 6,000 square feet, resulting in a price per square foot of $5,000.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $30,000,000
- Address: 449-453 N. Beverly Drive, Beverly Hills
- Market: Beverly Hills
- Buyer: LVMH – Bernard Arnault
- Square Footage: 6,000
- Price per Square Foot: $5,000
This acquisition is adjacent to two lots that LVMH purchased for $355 million in 2018. The company has plans to develop a 115-unit hotel on the adjacent lots.
Players
Beverly Hills Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93