Very interesting development at the One Beverly Hills site-
https://www.wsj.com/articles/chinese...Pos=1#cxrecs_s
Ignoring the parts about the Chinese exit, Beny Alagem is the new buyer after the Canadian firm Triple Five walked away. This might change the dynamic of his proposed tower redesign next door at the Beverly Hilton.
The partnership of Alagem Capital, headed by hotel mogul Beny Alagem, and Cain International already owns two neighboring hotels: the Waldorf Astoria Beverly Hills and the Beverly Hilton. With the latest purchase of the One Beverly Hills site located next to the Beverly Hilton, they will own a contiguous site of 17 acres that comes with a coveted 90210 ZIP Code.
“We are used to developing iconic projects in iconic areas,” Mr. Goldstein said in an interview. He added that it is a once-in-a generation opportunity to be able to develop more than 1 million square feet of space on both the Beverly Hilton and the One Beverly Hills sites. Mr. Goldstein said he expects the deal to close this month.
This could be real interesting for the city of BH, let the speculation begin.