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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
- ◦Sale/Acquisition


