Asian Investors Unload Retail Asset at a Loss

A swank Beverly Hills retail development that was purchased for $200 million by a group of Tokyo investors at the height of Japan’s US investment wave a decade ago has been sold for a loss of about $70 million, some Westside commercial brokers have told GlobeSt.com.

The buyer is Strategic Real Estate Advisors, a London-based investment company that agreed to pay roughly $129 million for the 135,000-sf development at the famed intersection of Wilshire Boulevard and Rodeo Drive. “The deal is in escrow and there’s no reason to think it will fall through,” one Westside broker familiar with the negotiations says.