AMSTERDAM, 8 April 2019 – Breevast has completed an investment in two office buildings on Wilshire Boulevard in Beverly Hills, Los Angeles, for USD 153.5 million. These investments confirm Breevast’s strategy as an active long-term investor with a sustainable presence in the United States.
Breevast has acquired an office building on 8942 Wilshire Boulevard, located in the highly coveted epicenter of Beverly Hills, Los Angeles. This single tenant building is fully long-term leased to high profile entertainment industry tenant Paradigm Talent Agency.
In addition, Breevast completed the purchase of an office building on 4525 Wilshire Boulevard, which has been extensively renovated as a creative modern workplace and is strategically located in the middle of the Beverly Hills, Hollywood and downtown Los Angeles business triangle. This multi-tenant building is leased to a variety of leading firms engaged in the entertainment industry.
The total investment in the two Wilshire Boulevard properties was USD 153.5 million. Financing was provided by two banks including Aareal Capital Corporation; building on Breevast’s strong track-record of activity in the United States such as the recent divestment of an office building on 345 Brannan St. in San Francisco which was long-term leased to Dropbox.