Posted Monday November 8, 2010 - 10:50 a.m.
By Amanda Peabody, Beverly Hills Courier
The Beverly Hilton hotel has been listed for sale with global commercial real estate brokers Cushman & Wakefield for the purpose of exploring the market, sources told The Courier exclusively, today.
A sale price has yet to be determined.
Sources with The Beverly Hilton’s ownership said that last month's sale of the 9900 Wilshire project “triggered a great deal of interest in The Beverly Hilton property.”
9900 Wilshire, which is adjacent to the hotel, sold to a group of Asian investors for $148.3 million.
Since its purchase in 2003, Beverly Hilton owner Beny Alagem has invested more than $80 million to return the hotel to its former prominence.
Alagem acquired the property from Merv Griffin for an estimated $130 million.
Sources further told The Courier that the move is exploratory and not driven by any debt situation.
Posted on: Beverly Hills Real Estate-Beverly Hills Homes For Sale
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