October 7, 2019
A JV led by New York City-based SHVO, Bilgili Group, and Deutsche Finance secured a $190 million construction loan to break ground on 9200 Wilshire Boulevard in Beverly Hills. Comprising a full city block, the project is one of the only active new residential developments in Beverly Hills.
SHVO’s Michael Shvo says, “This is a rare opportunity to build something unique and exceptional in an irreplaceable Beverly Hills location. With financing now secured, we look forward to creating an iconic property for residents and visitors in Beverly Hills.”
The group purchased the residential and retail development site adjacent to the prestigious “Golden Triangle” in May for $130 million. The loan was provided by ACORE Capital and the financing was arranged by Lotus Capital Partners.
The sleek mid-rise structure with 54 residences will feature a striking glass exterior and exclusive amenities, including a rooftop pool and roughly 6,650 square feet of retail space, wrapping around a central courtyard.
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