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THE ACADEMY TOWER IN NORTH HOLLYWOOD SELLS FOR $48M

LOS ANGELES — The Academy Tower, a 175,012-square-foot office building in the Los Angeles submarket of North Hollywood, has sold to Kennedy Wilson for $48 million. The building is located at 5200 Lankershim Blvd. It is 97 percent leased. Notable tenants include Endemol, IPPT and Starcom Worldwide. The transaction was funded with $19 million in equity from Kennedy Wilson and a $29-million loan from Bank of America Merrill Lynch.

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