Christina Real Estate Investors 2 has acquired two adjacent mixed-use retail/commercial properties, located at 328 & 332 South Beverly Drive in Beverly Hills, California. The price of the transaction was $11.5 million.
MALIBU, Calif.–(BUSINESS WIRE)–Christina Real Estate Investors 2, LLC (“CREI 2”) announced today that it acquired two adjacent mixed-use retail/commercial properties, located at 328 & 332 South Beverly Drive in Beverly Hills, California, for $11.5 million.
328 South Beverly Drive is an 8,000 square feet two-story reinforced brick building constructed in 1946. The property features a large outdoor courtyard and covered parking. 332 South Beverly Drive is a 3,750 square feet single-story reinforced brick building erected in 1948 with on-site parking.
Lawrence N. Taylor, President of Christina Development Corporation (“Christina”), shared “We engaged Zoltan Pali, FAIA, as the project architect for these two architecturally notable buildings. Mr. Pali designed the adaptive re-use of the historic Beverly Hills Post Office, which was converted to the iconic Wallis Annenberg Center for the Performing Arts. We have a long-established relationship with Mr. Pali and his firm, and we look forward to working with the City of Beverly Hills to preserve, enhance and re-position our properties.”
Christina is a private, family owned, integrated real estate investment, development and property management company founded in 1977 based in Malibu, California. Christina specializes in acquiring, developing, redeveloping, and operating investment grade properties in the prime sub-markets of West Los Angeles, California including Beverly Hills, Brentwood, Century City, Malibu, Santa Monica, Westwood, West Hollywood, and Venice/Silicon Beach.
In 2013, Christina launched Christina Real Estate Investors 1, LLC (“CREI 1”), a $26 million real estate private equity company, which currently owns one commercial property and five multi-family properties. On September 1, 2016, Christina launched CREI 2, a $75 million real estate private equity company. CREI 2 has already received over $16,500,000 in capital commitments to date. CREI 1 and CREI 2 follow the same investment methodology and strategies that have proven successful for the past 40 years in yielding excellent and consistent returns to investors.