A swank Beverly Hills retail development that was purchased for $200 million by a group of Tokyo investors at the height of Japan’s US investment wave a decade ago has been sold for a loss of about $70 million, some Westside commercial brokers have told GlobeSt.com.

The buyer is Strategic Real Estate Advisors, a London-based investment company that agreed to pay roughly $129 million for the 135,000-sf development at the famed intersection of Wilshire Boulevard and Rodeo Drive. “The deal is in escrow and there’s no reason to think it will fall through,” one Westside broker familiar with the negotiations says.

The European-style project, built around a cobblestone street, may have more upscale retailers than Beverly Hills has plastic surgeons. Tenants include Tiffany, Cartier and Valentino. A partnership of Tokyo-based retailing giant Sogo Co. and Industrial Bank of Japan’s Kowa Real Estate Investment Co. subsidiary paid a reported $200 million for it in 1990, just as Japanese investment in the US and Southland commercial real estate values both hit their peak.

.Eastdil Realty’s Beverly Hills office put the property on the market a few months ago. The New York office of Falcon Real Estate represented Strategic Real Estate Advisors.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.