The European-styled Two Rodeo property occupies one of thehighest-profile intersections in Southern California, the corner ofRodeo Drive and Wilshire Boulevard. Besides Tiffany & Co., itstenants include Versace, Jimmy Choo, Rene Caovilla, Damiani, ColeHaan, Jose Eber and others.

Algermissen, a senior director based in Cushman &Wakefield's Los Angeles Downtown office, calls the retail center"an extraordinary property located in one of the most desirableretail locations in the world." The seller was represented byStrategic Real Estate Advisors of london and Falcon Real Estate ofSan Diego in the second recent instance of offshore firms investingin Beverly Hills commercial real estate.

In the other recent deal, reported on GlobeSt.com, a jointventure of Ireland's Dublin-based First Equity Group and locallybased HDS Group bought two sites where the JV is planning $300million of mixed-use condominium and retail development. Theproperties, which include some of the last remaining undevelopedsites in Downtown Beverly Hills, are at 9200 Wilshire Blvd. and450-460 N. Palm Dr.