The joint venture led by SHVO, Bilgili Group and Deutsche Finance that owns the property at 9200 Wilshire Boulevard in Beverly Hills, California, has closed on a $190 million construction loan to break ground on the project. The group purchased the residential and retail development site adjacent to the prestigious “Golden Triangle” in May for $130 million. The loan was provided by ACORE Capital, a leading commercial real estate finance company. The financing was arranged by Lotus Capital Partners.
Comprising a full city block, the project is one of the only active new residential developments in Beverly Hills. The mid-rise structure will feature 54 residences and approximately 6,650 square feet of retail space, wrapping around a central courtyard along Wilshire Boulevard. Residents will enjoy an exclusive living experience in one of the world’s most sought-after neighborhoods.
Investors include Bayerische Versorgungskammer (“BVK”), one of the largest institutional investors in Germany and a top ten pension fund in Europe.
