Hilton Sells Former California Headquarters Building
From Los Angeles Times:
New Owner to Spend $23 Million to Renovate
The vacant former headquarters of Hilton Hotels Corp. in Beverly Hills has been purchased by a New York landlord, underscoring the growing strength of the commercial real estate market as investors swoop in on upscale properties.
On Tuesday, Tishman Speyer bought the two adjoining office buildings on Civic Center Drive from Hilton. The hotelier was acquired by corporate buyout giant Blackstone Group in 2007 and moved from Beverly Hills to McLean, Va., in 2009 to be closer to Blackstone's New York headquarters. Click here for the full story.
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