Aghravi and Han of Eastern Consolidated facilitate $30 million loan for Hakim Holdings’ purchase of 9350 Wilshire Blvd.

Beverly Hills, CA Eastern Consolidated’s Capital Advisory Division has arranged a $30 million acquisition loan for Hakim Holdings’ purchase of 9350 Wilshire Blvd. Hakim Holdings acquired the four-story, 61,000 s/f property for $48 million in an off-market transaction. Jonathan Aghravi, managing director of Eastern Consolidated, and Charles Han, associate director, led the financing team and negotiated the 10-year, fixed-rate loan, from East West Bank. “Provided with a short window in which to meet the closing deadline, we were able to identify a lender and negotiate attractive terms for Hakim Holdings’ purchase,” said Aghravi. “East West Bank delivered excellent service as they ensured a quick and smooth closing process.” Hakim Holdings, led by brothers Alexander and Steven Hakim along with their father Kambiz Hakim, is a long-term owner of multifamily, retail, and office properties in New York City and California, and is experienced in managing office real estate in the Los Angeles area. Alexander Hakim added, “Eastern worked professionally and quickly to find the right financing for our company, which enabled us to close in a timely manner.” The property at 9350 Wilshire Boulevard includes ground floor retail, of which over 12,000 square feet is leased to a stable and high credit tenant, Wells Fargo. The building also consists of over two dozen offices that offer substantial rental upside. Hakim Holdings plans to upgrade the property and lease the office space at market rates to prime tenants as the units turn over. “We are extremely excited and proud to be able to acquire such a rare property, with the opportunity to reposition the asset in one of the most premiere locations in the world,” said Kambiz Hakim. The building is ideally located on the major thoroughfare of Wilshire Boulevard, on the south east corner of Crescent and Wilshire, which is a cornerstone of the Beverly Hills Triangle market, and is in close proximity to world-class restaurant and retail. Eastern Consolidated’s Capital Advisory Division complements the firm’s Investment Sales Division, and specializes in the origination and delivery of commercial real estate debt and equity financing. The Division’s seasoned professionals have extensive experience in arranging permanent and short-term debt funding, construction loans, mezzanine financing, preferred equity, and joint venture equity for a variety of major asset types throughout the United States. These assets include multifamily, office, retail, mixed-use, industrial, and hospitality properties, among many others.