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California  + Los Angeles  + Office  | 

Cruzan, Cigna JV Claims Beverly Hills Office Asset for $69M

HFF arranged the $69.25-million sale and $51.5-million financing of 9171 Wilshire Drive, a 106,890-square-foot office building in Beverly Hills, CA. A joint venture between Cruzan and Cigna Investment Management acquired the property from an undisclosed seller.

The six-story office building is 83% leased to a mix of entertainment, financial, legal and real estate tenants, including Avalon Holdings, Kaplan Perrone Entertainment and Mejia & Kaplan. Cruzan plans to substantially renovate the entire building, with the hope of capitalizing on the strength of the Beverly Hills office submarket.

HFF’s Andrew Harper, Matthew Fisher and Ryan Gallagher represented the seller associate. HFF’s Paul Brindley, Todd Sugimoto, Steven Paskover and Ryan Ash represented the borrower in the financing.

“This was an extremely rare opportunity to acquire an asset with significant upside in one of the most sought-after core markets in the world,” said Harper.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
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