Kennedy-Wilson Pays $48M for North Hollywood Office Building
Start your day well-informed with GlobeSt.com's National AM Alert. Sign Up Today!
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 .
GlobeSt.com News Hub is your link to relevant real estate and business stories from other local, regional and national publications.
So much is happening across the country in the office sector. Hear the latest in creative office, how millennials are impacting the direction of the market and where developers are focusing at a RealShare Conference. Check out the details and agendas to find an informative office panel and register today.
You can now be notified via email if this story is updated by clicking on the "Follow this Story" link. You must be a registered member to take advantage of this "members only" benefit.