Kennedy Wilson scoops up another Beverly Hills office property

The real estate investment firm’s $34M acquisition adds to its existing buildings on the same block

Los Angeles /
Apr.April 03, 2018 02:00 PM
136 El Camino Drive and Kennedy Wilson executive William J McMorrow

Kennedy Wilson is stocking up on its El Camino Drive properties.

The real estate investment firm, acting through an entity, paid $34.3 million for the office building at 136 El Camino Drive in Beverly Hills, The Real Deal has learned. It also owns two other properties on the same block, at 150 and 151 El Camino Drive.

The 23,000-square foot office building belonged to an Edward Doheny family trust since 1989, property records show. Doheny, an oil tycoon notorious for his involvement in the Teapot Dome scandal in the 1920s, is also the namesake of Doheny Drive, which stretches through Beverly Hills and West Hollywood.

Bob Safai, Matt Case, Chris DuMont and Brent Bissel of Madison Partners brokered the sale.

Kennedy Wilson did not immediately respond to requests for comment.

Earlier this year, the Beverly Hills-based firm acquired Corporate Realty Associates. The merger, which was announced March 19, will allow the company an entry into office tenant representation.

Kennedy Wilson, led by chairman and CEO William J. McMorrow, owns 1.2 million square feet of commercial real estate and nearly 3,000 multifamily units in Southern California, according to its website. Nationwide, it owns 5.2 million square feet of commercial properties, and over 22,500 multifamily units.


Related Articles

arrow_forward_ios
The future of San Francisco’s Oceanwide Center is up in the air again (Getty, Foster and Partners)

Contractors pull out as Oceanwide Center sale falls through again

Contractors pull out as Oceanwide Center sale falls through again
The Stinking Rose and a rendering of the proposed hotel (Google Maps, Gilliland Architecture via Urbanize, iStock)

Objectionable: Beverly Hills pushes back on hotel project replacing Stinking Rose

Objectionable: Beverly Hills pushes back on hotel project replacing Stinking Rose
Clockwise from top left: 1801 Angelo Drive, 911 North Foothill Road, 1025 Loma Vista Drive and 1175 North Hillcrest Road (Google Maps)

Bezos, Geffen, Katzenberg dominate LA’s biggest resi sales of 2020

Bezos, Geffen, Katzenberg dominate LA’s biggest resi sales of 2020
Priscilla Presley and her Beverly Hills estate (Getty, Redfin)

Priscilla has left Beverly Hills: King of Rock’s widow sells estate

Priscilla has left Beverly Hills: King of Rock’s widow sells estate
Granite CEO Michael Dardick and Industrious CEO Jamie Hodari

Industrious partners with landlords to offer tenants satellite workplaces

Industrious partners with landlords to offer tenants satellite workplaces
9600 Wilshire Boulevard (Google Maps, iStock)

Beverly Hills Saks Fifth Avenue hits the auction block

Beverly Hills Saks Fifth Avenue hits the auction block
Colorado Campus at 2041-2115 Colorado Avenue and Northwestern Mutual CEO John E. Schlifske

Northwestern Mutual picks up Santa Monica office campus for $166M

Northwestern Mutual picks up Santa Monica office campus for $166M
Michael Shabani of Crown and Russell Russell Gimelstob of Ascendant, and the building (Credit: Google Maps)

Crown Equity partnership sells Rodeo Drive building for $122M

Crown Equity partnership sells Rodeo Drive building for $122M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...