Carolwood LP Acquires Beverly Hills Plaza For $20.1M | 8950 West Olympic Boulevard | First Republic Bank | Retail | Sale

Summary

Sale

CALIFORNIA

Retail

30,000 sqft

Beverly Hills Plaza, a renowned strip mall located at 8950 West Olympic Boulevard in Beverly Hills, has been sold for $20.1 million in a recent transaction. The asset type of this property is retail, with a total area of 30,000 square feet. The price per square foot for this sale is approximately $670, indicating a substantial value for the property.

Summary of transaction details

Property Type: Retail
Transaction Amount: $20,100,000
Address: 8950 West Olympic Boulevard
Market: Beverly Hills

The buyer of Beverly Hills Plaza is Carolwood LP, represented by Adam Rubin and Andrew Shanfeld. As a private equity firm, Carolwood LP saw potential in the strip mall and decided to acquire it for their investment portfolio. With the purchase, the new owner plans to bring their own restaurants to the mall, taking advantage of the restaurant industry's appeal in attracting customers to strip malls. This strategic move aims to enhance the overall performance and profitability of the property in the future.

Players

All
1

Lenders
1

First Republic Bank

Details

Deal Summary

SOLD

IMAGE: Adam Rubin & Andrew Shanfeld DATE: 05/18/2023 ADDRESS: 8950 West Olympic Boulevard MARKET: Beverly Hills ASSET TYPE: Retail BUYER: Carolwood LP - Adam Rubin & Andrew Shanfeld LENDER: First Republic Bank SALE PRICE: $20,100,000 SF: 30,000 ~ PPSF: $670 NOTE: Beverly Hills Plaza, a renowned strip mall, has been sold for $20.1 million to private equity firm Carolwood LP. The new owner plans to potentially bring its own restaurants to the mall, capitalizing on the appeal of the restaurant industry in attracting customers to strip malls.

View on map

Address8950 West Olympic Boulevard

Comparables

This user does not have deals with the selected filters yet.
Reset filters to show results.