BEVERLY HILLS, CA-The Wilshire Robertson Plaza has secured $18 million in financing through a life insurance company. The 119,421-square foot office building is in a sought-after submarket, located at 8750 Wilshire Blvd in Beverly Hills. Building tenants include Alloy Digital, Mad Old Nut Productions and Radnet Sub, Inc.

“This is an A-plus property in an A-plus location,” says Robert R. Hervey, EVP and senior managing director at Northmarq's Los Angeles office, who secured the loan on behalf of the borrower. “The owner is very strong and the loan amount is very conservative. The competition for the loan was very high providing very good terms for the borrower.” 

The loan has a 9-year term and a 25-year amortization schedule. Northmarq secured the loan through a previous relationship with a life company. Northmarq could not be reached for further comment or information about how the borrower planned to use the funds.

CBRE recently announced a 63,691-square-foot land site in close proximity to the Wilshire Robertson Plaza has come onto the market. The site has potential for a boutique hotel and residential units.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.