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

TRD 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
Jason Illoulian and the Cemex plant

Faring makes $30M assemblage play on WeHo/LA border

Robert Shapiro and the property at 1357 Laurel Way (Credit: Zillow)

Beverly Hills mansion tied to Ponzi schemer sells for $18M

From left: Nuveen CEO Vijay Advani, Graymark founder/CEO Brian Hecktman

Graymark, Nuveen pay $97M for El Segundo creative office

Masrour and Mansour Barzani and the two Beverly Hills properties

Beverly Hills mansion buys linked to powerful Kurdish family

Four of the top residential listings this week

Here are the priciest resi listings in LA County last week

Clockwise from top left: 709 N. Arden Drive, 800 Nimes Road, 12921 Marlboro Street, 609 Palisades Beach Road and (center) 924 Bel Air Road

Here are the priciest resi sales in LA County last week

La Mirada industrial building

Clarion pays $77M for La Mirada industrial project

510 Park Avenue and CEO of Monster Beverage Rodney Sacks

Monster Beverage affiliate guzzles down industrial project in San Fernando

arrow_forward_ios