January 11, 2019
You can hear more about the trends shaping the retail industry at Connect Retail West coming up on Jan. 22nd at The Resort at Pelican Hill. Here’s where to get more information and register to join us.
A 28,114-square-foot retail property on Beverly Hills’ iconic Rodeo Drive has been refinanced for $160 million, which works out to $5,691-per-square-foot. The fully-leased, two-story property is home to Tom Ford, Bally and Balenciaga, three of the most iconic fashion designers in the world.
Situated on a double lot at 338-346 North Rodeo Dr., the building is in the middle of the premier 300 block and directly across the street from the flagship Gucci store.
That lofty valuation is aligned with Rodeo Drive’s status as one of the world’s premier retail destinations and top consumer retail destination on the West Coast. The market has immense barriers to entry, and is one of the most coveted retail addresses in the world.
HFF’s Marc Schillinger represented the borrower, a private owner, in placing the 10-year, fixed-rate loan with an entity managed by an affiliate of Apollo Global Management, LLC.
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