William Morris | Beverly Hills, CA
In September 2008, Brickman originated a mezzanine loan secured by the William Morris Portfolio. The agreement consists of three Class A office buildings located in Beverly Hills, CA. Two of the three buildings serve as the headquarters of the William Morris Agency. The other property is a multi-tenant office building.
In September of 2009, Brickman purchased a Junior Participation in the senior loan secured by the Portfolio. The firm purchased the participation due to the Portfolio's irreplaceable location off of Wilshire Boulevard in the heart of the Beverly Hills submarket. Brickman's position controls the loan. The investment strategy driving the senior loan purchase was to obtain a high risk-adjusted return assuming a foreclosure scenario. At the same time, the restructuring of the note significantly improved Brickman's mezzanine position.
Property Details
- Property Type
- Office
- Investment
Type - Mezzanine & Junior Participation
- Rentable Area (S.F.)
- 179,408
- No. of Buildings
- 3
- Investment Date
- Sep-09