BEVERLY HILLS, CALIF. — The Wanda Group has acquired an eight-acre site in Beverly Hills for an undisclosed sum. The space is located at 9900 Wilshire Blvd.
The site is adjacent to the Beverly Hilton Hotel, which will soon be a Waldorf Astoria Hotel. The space previously housed a Robinsons-May store.
The group plans to develop this space into a luxury mixed-use project with residential condominiums. The groundbreaking is planned for next year.
The condos will feature 360-degree views that span over the Los Angeles Country Club golf course. They will be designed by architect Richard Meier.
The seller, Joint Treasure International, was represented by CBRE’s Laurie Lustig-Bower and Rebecca Shum, along with Robert Stamm and Frank Marriott of Savills Studley. Joint Treasure invests on behalf of a select investor base into prime real estate in global gateway cities.