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9701 Wilshire Boulevard

9701 Wilshire Boulevard is a 12-story, multi-tenant high rise office building located on Wilshire Boulevard in the heart of Beverly Hills, California. The building was purchased at a. price of $17.9 million (including $7 million of equity), and provision was made in the purchase price to fund extensive renovation and re-leasing programs. There was some vacant space in the building at the time of purchase, but Falcon recommended the property since we had great faith that the real estate market in Beverly Hills would recover. The renovation and re-leasing programs were completed in less than three years, and the building was sold at a price of $27.9 million. The Internal Rate of Return for the holding period was 17.7%.

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9701 Wilshire Boulevard