Hakim Holdings, GWP Real Estate And Mazal Enterprises Acquire Retail Property On North Rodeo Drive In Beverly Hills For $96M
457 North Rodeo Drive, Beverly Hills, CA 90210, USA
$96,000,000
$8,258/SF
Building Size
11,625 SF
Asset Type
Retail
Closing
Oct 24, 2018
AI
Located at 457-459 North Rodeo Drive in Beverly Hills, this retail property was recently sold in a closed transaction. The property spans over 11,625 square feet in size and is situated in a prime market.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $96,000,000
- Price per Square Foot: $8,240
- Buyer: Hakim Holdings, GWP Real Estate and Mazal Enterprises
- Seller: Lang & Lang Properties
The deal was facilitated by Carine Mamann, Kazuko Morgan, and Stephen Algermissen from Cushman & Wakefield. The buyer consortium represented by Hakim Holdings, GWP Real Estate, and Mazal Enterprises successfully acquired the property from Lang & Lang Properties. No additional details were provided regarding the terms of the transaction.
Players
Beverly Hills Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93