Balcony at Beverwil

9619 West Pico Blvd. Los Angeles, CA 90035

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PRICE: 

$39,500,000.00

Building Size: 

71,228 SF

Land Size

54,450 SF

Tenants

Ralphs, CVS Pharmacy

Challenge

Solution

  • Sale had to be kept off market so the team was not able to advertise listing.

  • They had a CMBS loan in place that had a high interest rate compared to then market rates.

  • Found willing Buyer through their marketing channels.

  • The team convinced the Buyer to go hard with $1 million released to the seller after a five-day contingency period.

  • In addition to achieving the asking price the Buyer paid for the defeasance resulting in $4.5 million tax savings for the seller.