By Ron Chen, Correspondent ASEAN Region
A Dubai-based advisory firm regulated by the Dubai Financial Services Authority, Arzan Wealth (DIFC) Limited has announced that it has advised its client on the acquisition of The Post, a trophy creative office building, located in a highly desirable part of Beverly Hills, California.
The Post is a meticulously designed best in class boutique media asset in prestigious Beverly Hills. Originally constructed as a postal distribution facility, The Post was converted in 2019 into trophy creative office space, featuring 103,555 rentable square feet and an adjoining 3-story parking structure. The property is located in Beverly Hills’ Entertainment & Media Business District, the prime hub for high-profile media and entertainment firms.
The Property is currently 100 per cent leased with a lease term of around 11 years to Live Nation Entertainment and US Postal Services (USPS). The anchor tenant Live Nation holds centre stage as the world’s largest ticket seller and promoter of live entertainment with a market cap of US$18 billion as of April 15, 2021.
Arzan Wealth advised on the structuring and acquisition of the asset and will continue in this role during the holding period of this investment, which is projected to deliver average monthly income to clients equal to 8.90 per cent per annum.
CEO of Arzan Wealth Muhannad Abulhasan said: “We are delighted to have advised and arranged the acquisition of The Post asset, which we feel should deliver solid returns for our clients. Similar to prior Arzan Wealth deals, this asset is expected to be a safe investment that protects the principal of our clients while providing them with a secure and attractive monthly distribution. This acquisition is also timely for our clients, who have received from Arzan Wealth several profitable exits during 2021, thus allowing them to re-deploy capital into new and attractive opportunities. We will ensure prudent risk management and attractive financial results are delivered to our valued clients with the objective of protecting their wealth and legacies”
