BEVERLY HILLS, CA—Maxxam Enterprises has completed the sale of a three properties totaling $100 million, reports exclusively. Two of the properties, the L’Opera Building, an office property, and Arlington Plaza, a shopping center, were part of the company’s Southern California portfolio. The third property sale, Maui Lu Resort, is a hotel in Hawaii.

“We received substantial interest in all three properties including multiple offers from qualified groups. Maxxam had several reasons for disposing of each property,” a source at Maxxam Enterprises tells “For Maui Lu Resort, we made the decision not to develop this ourselves; the Riverside property was a non-core location for us, so we maximized the potential through re-tenanting and stabilizing the property; and for the L’Opera Building, we successfully leased it and stabilized it by getting rid of all the vacancies,” says the source.

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