Trophy Investors Snag 9900 Wilshire for $148M

BEVERLY HILLS, CA-What some insiders consider one of the highest profile real estate properties in the US—9900 Wilshire Blvd. in Beverly Hills—has been acquired by major trophy property investors from Hong Kong and Singapore for $148.3 million. Purchased for $500 million in 2007 by British developers Nicholas and Christian Candy and their CPC Group, as GlobeSt.com previously reported, the property fell into foreclosure early this year and was acquired by Carlos Slim’s Banco Inbursa, one of the lenders. 

Banco Inbursa set up a private bidding auction administered by Eastdil Secured and law firm Skadden Arps that was won by Joint Treasure International Ltd., a Hong Kong-based private equity firm specializing in global real estate that represents major family investors. Law firm Allen Matkins Leck Gamble Mallory & Natsis advised Joint Treasure in the transaction.