Tishman Speyer Selling Beverly Hills Office Building

Tishman Speyer is selling the last in a three-office building portfolio in Beverly Hills for more than $200 million, a source familiar with the matter told The Real Deal.

Maple Plaza, at 345 North Maple Drive, was built in 1987 and spans three stories and nearly 300,000 square feet. The source declined to identify the buyer.

The Class A property boasts a fitness center with a yoga studio, dining options and electric vehicle charging stations. Tenants include the production teams for “The Lincoln Lawyer” and “Crazy Rich Asians,” according to CoStar, which notes the building was half-empty as of early January. Retailers on site include goop Kitchen and Cafe Ruisseau.

Tishman Speyer purchased 345 North Maple Drive in 2005 for $101 million along with two adjacent office properties. The New York City-based landlord declined to comment on the upcoming sale of Maple Plaza. CBRE’s Stephen Somer and Brooke Silver are brokering the deal and declined to comment.

Tishman Speyer sold the other two buildings in the portfolio, at 9242 Beverly Boulevard and 407 North Maple Drive, last year. Fashion Nova founder Richard Saghian acquired the latter for $118 million in an off-market deal in August and made it the brand’s headquarters. Months later Jason Illoulian and fashion and hospitality entrepreneur Frank Zarabi nabbed the former for $90 million.

Tishman Speyer took out a $220 million loan connected to the trio of properties two years after purchasing them. The debt was placed on a special servicing watchlist, but Tishman Speyer secured a $275 million refinancing ahead of its maturity date, TRD previously reported.

Beverly Hills’ office market has a 24.6 percent vacancy rate, according to a second-quarter CBRE report, though office buildings are still trading hands. Last quarter, the priciest office sale in West Los Angeles was Barings’ Playa Vista purchase from Clarion Partners for $151 million, the report notes. Beverly Hills notched the fifth-highest spot on the list with Law Brothers purchasing an office building at 8350 Wilshire Boulevard for $26 million.