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2/23/17
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Sterling Organization has acquired a high-street, vacant retail property at 315-319 North Beverly Dr in Beverly Hills. The purchase was financed with a $12.14 mil loan arranged by HFF.
315-319 North Beverly Drive is a single-story, 4.7k sf property situated in the desirable Beverly Hills Golden Triangle on the Rodeo Drive side of North Beverly Drive. North Beverly Drive is one of United States’ most prominent and well-known retail and restaurant destinations.
HFF’s Marc Schillinger, Chris Drew and Ryan Ash arranged the non-recourse, fixed-rate loan at $2,583 per square foot. This transaction comes immediately after HFF’s recent $122 mil sale of The House of Bijan on Rodeo Drive, which sold for a record-breaking $19.4k per square foot.
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