BEVERLY HILLS, CA–Hustler magazine founder and chairman Larry Flynt has sold his company's iconic headquarters building at 8484 Wilshire Blvd. for $89 million to Douglas Emmett Inc. Terms of the deal were not disclosed.
Flynt also signed a long-term lease for his company to remain in the building as its anchor tenant.
“I bought the building in 1994 for less than $19 million, so we've been able to unlock significant equity which we can now put to much better use in other ventures and achieve greater returns,” said a statement from Flynt.
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