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BH Triangle Office Building Trades for $47M

BEVERLY HILLS, CA—Several trusts sell the 26,500-square-foot office building after more than 90 years of ownership in an all-cash transaction to New York-based investor Jenel Management Corp.

By Kelsi Maree Borland | Updated on November 13, 2014

BEVERLY HILLS, CA—New York-based investor Jenel Management Corp. has purchased an office building in the Beverly Hills Golden Triangle for $47.3 million from a conglomerate of trusts. The trusts represented several generations of the previous owners, who originally purchased the property from Burton Green in the 1920s. 

The sellers decided to dispose of the property because of the complicated ownership, which was passed down through generations. “From the original three business partners that bought the property from Burton Green of the Rodeo Land Co., seven family trusts existed today with numerous offspring, it was time to sell before ownership became even more splintered,” Patrick Sheekey, EVP at Coldwell Banker Commercial Westmac, tells GlobeSt.com. Sheekey represented the seller in the in the transaction along with his Coldwell Banker Commercial colleague Chris Holland.  John Bertram of Savills Studley represented the buyer.

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