Kennedy-Wilson Pays $48M for North Hollywood Office Building
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LOS ANGELES-Kennedy-Wilson Holdings Inc. has bought Academy Tower, a 175,012-square-foot office complex in North Hollywood. The Beverly Hills-based real estate investment and services firm paid $48 million for the office building located at 5200 Lankershim Blvd.
Academy Tower is situated in North Hollywood's NoHo Arts District. Bank of America Merrill Lynch provided $29 million in loan and the real estate company invested $19 million of equity to purchase the building, which is 97% leased to tenants such as IPPT, Starcom Worldwide and Endemol. For the full story, go to Los Angeles Business Journal .
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