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3/04/22
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An unnamed family real estate investment entity has obtained $38 mil in financing for the fee simple interest in a parcel located at the prominent corner of Rodeo Drive and Brighton Way in the heart of the Beverly Hills luxury goods shopping district known as The Golden Triangle. The fee simple parcel is subject to a long-term ground lease with improvements consisting of an 18.4k sf, high street retail structure occupied by luxury brands including Guess, Goyard, Bulgari, Wolford, Christofle, and Bonpoint.
The financing was arranged by Andy Bratt and Amit Tyagi of Gantry and funded through Lincoln Financial Group. The 18-year loan has an attractive fixed rate well inside 3%, and is fully amortizing over the loan’s term.
The borrower has years of investment experience in the region, particularly in the Golden Triangle and along Rodeo Drive. They were the original developer of the improvements and played a significant role in shaping Rodeo Drive as the luxury shopping destination it is known as today.
The street includes retailers like Louis Vuitton, Gucci, Prada, Saint Laurent, Tom Ford and many more, attracting shoppers from around the globe. According to Bratt, Lincoln Financial Group was attracted to the remarkably low leverage coupled with the iconic location with the expectation that Beverly Hills and Rodeo Drive will remain one of, if not the, premier shopping and luxury destinations in the world.
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