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LOS ANGELES — Institutional Property Advisors Capital Markets has arranged a $50 million refinancing for a 168,764-square-foot office tower in Beverly Hills. The 12-story tower is situated within the Golden Triangle area. It was first high-rise building erected on Wilshire Boulevard in the 1970s.
The cash-out loan refinanced a 25-year, fixed-rate loan. The new non-recourse loan features a 15-year, 3.75 percent fixed rate with interest-only payments.
Jake Roberts and Anita Paryani Rice of Institutional Property Advisors Capital Markets arranged the loan.