{"id":1004053414,"date":"2011-12-15T15:01:36","date_gmt":"2011-12-15T23:01:36","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=27439"},"modified":"2022-12-06T06:23:16","modified_gmt":"2022-12-06T14:23:16","slug":"hudson-pacific-goes-hollywood-pays-92-5m-for-office-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hudson-pacific-goes-hollywood-pays-92-5m-for-office-asset\/","title":{"rendered":"Hudson Pacific Goes Hollywood, Pays $92.5M for Office Asset"},"content":{"rendered":"

By Alex Girda, Associate Editor<\/p>\n

CIM Group, a specialist in\u00a0investing in and developing urban properties, has sold its Hollywood Boulevard headquarters to\u00a0Hudson Pacific Properties Inc. Hudson Pacific bought the\u00a012-story office building at 6922 Hollywood Boulevard for $92.5 million, the Los Angeles Business Journal <\/em>reported. The deal marks Hudson Pacific\u2019s fourth purchase in Hollywood and its seventh Los Angeles-area acquisition\u00a0in the past 12 months, the Business Journal<\/em> added.<\/p>\n

CIM Group will continue to maintain its headquarters at the 202,522-square-foot property, which also offers 33,694 square feet of ground-floor retail space. The 44-year-old building was renovated most recently between 2005 and 2007.<\/p>\n

\u00a0In other real estate news, New York-based Phoenix Realty has acquired a 237-unit Long Beach multifamily complex from BPG Properties in a $34.5 million deal. New Standard Equities, which arranged the deal, will stay on to manage the 48-year-old asset.<\/p>\n

Phoenix Realty Managing Director Edward Ratinoff told the Los Angeles Times<\/em> that the market is ready to go on the upswing. Purchase of the Long Beach property reflects the company\u2019s strategy of seeking out in \u201careas that get under-looked\u201d. Along those lines, Phoenix Realty recently paid $36.4 million for a 288-unit apartment complex in Riverside, Calif.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Alex Girda, Associate Editor
\nCIM Group, a specialist in\u00a0investing in and developing urban properties, has sold its Hollywood Boulevard headquarters to\u00a0Hudson Pacific Properties Inc. Hudson Pacific bought the\u00a012-story office building at 6922 Hollywood Boulevard for $92.5 million, the Los Angeles […]<\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1594,21742],"tags":[],"class_list":["post-1004053414","post","type-post","status-publish","format-standard","hentry","category-los-angeles","category-latest"],"acf":[],"yoast_head":"\nHudson Pacific Goes Hollywood, Pays $92.5M for Office Asset - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/hudson-pacific-goes-hollywood-pays-92-5m-for-office-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hudson Pacific Goes Hollywood, Pays $92.5M for Office Asset\" \/>\n<meta property=\"og:description\" content=\"By Alex Girda, Associate Editor CIM Group, a specialist in\u00a0investing in and developing urban properties, has sold its Hollywood Boulevard headquarters to\u00a0Hudson Pacific Properties Inc. Hudson Pacific bought the\u00a012-story office building at 6922 Hollywood Boulevard for $92.5 million, the Los Angeles [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/hudson-pacific-goes-hollywood-pays-92-5m-for-office-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2011-12-15T23:01:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-06T14:23:16+00:00\" \/>\n<meta name=\"author\" content=\"Alex Girda\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hudson-pacific-goes-hollywood-pays-92-5m-for-office-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/hudson-pacific-goes-hollywood-pays-92-5m-for-office-asset\/\",\"name\":\"Hudson Pacific Goes Hollywood, Pays $92.5M for Office Asset - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"datePublished\":\"2011-12-15T23:01:36+00:00\",\"dateModified\":\"2022-12-06T14:23:16+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/540f0253de89dedaae7684239611b81c\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hudson-pacific-goes-hollywood-pays-92-5m-for-office-asset\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/hudson-pacific-goes-hollywood-pays-92-5m-for-office-asset\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hudson-pacific-goes-hollywood-pays-92-5m-for-office-asset\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Hudson Pacific Goes Hollywood, Pays $92.5M for Office Asset\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/540f0253de89dedaae7684239611b81c\",\"name\":\"Alex Girda\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Alex-Girda.jpg?w=96\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Alex-Girda.jpg?w=96\",\"caption\":\"Alex Girda\"},\"description\":\"Alex is a senior editor with Multi-Housing News and Commercial Property Executive who has more than a decade of experience in the industry. Mainly focused on data-driven exploits, he works with Yardi Matrix and CommercialEdge to provide insights into the real estate market.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/alex-girda\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Hudson Pacific Goes Hollywood, Pays $92.5M for Office Asset - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/hudson-pacific-goes-hollywood-pays-92-5m-for-office-asset\/","og_locale":"en_US","og_type":"article","og_title":"Hudson Pacific Goes Hollywood, Pays $92.5M for Office Asset","og_description":"By Alex Girda, Associate Editor CIM Group, a specialist in\u00a0investing in and developing urban properties, has sold its Hollywood Boulevard headquarters to\u00a0Hudson Pacific Properties Inc. Hudson Pacific bought the\u00a012-story office building at 6922 Hollywood Boulevard for $92.5 million, the Los Angeles [...]","og_url":"https:\/\/www.commercialsearch.com\/news\/hudson-pacific-goes-hollywood-pays-92-5m-for-office-asset\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2011-12-15T23:01:36+00:00","article_modified_time":"2022-12-06T14:23:16+00:00","author":"Alex Girda","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/hudson-pacific-goes-hollywood-pays-92-5m-for-office-asset\/","url":"https:\/\/www.commercialsearch.com\/news\/hudson-pacific-goes-hollywood-pays-92-5m-for-office-asset\/","name":"Hudson Pacific Goes Hollywood, Pays $92.5M for Office Asset - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"datePublished":"2011-12-15T23:01:36+00:00","dateModified":"2022-12-06T14:23:16+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/540f0253de89dedaae7684239611b81c"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/hudson-pacific-goes-hollywood-pays-92-5m-for-office-asset\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/hudson-pacific-goes-hollywood-pays-92-5m-for-office-asset\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/hudson-pacific-goes-hollywood-pays-92-5m-for-office-asset\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Hudson Pacific Goes Hollywood, Pays $92.5M for Office Asset"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/540f0253de89dedaae7684239611b81c","name":"Alex Girda","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Alex-Girda.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Alex-Girda.jpg?w=96","caption":"Alex Girda"},"description":"Alex is a senior editor with Multi-Housing News and Commercial Property Executive who has more than a decade of experience in the industry. Mainly focused on data-driven exploits, he works with Yardi Matrix and CommercialEdge to provide insights into the real estate market.","url":"https:\/\/www.commercialsearch.com\/news\/author\/alex-girda\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004053414","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004053414"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004053414\/revisions"}],"predecessor-version":[{"id":1004620241,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004053414\/revisions\/1004620241"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004053414"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004053414"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004053414"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}