More details emerge on Cedars-Sinai’s Beverly Connection buy
It looks like there’s more under the surface with Cedars-Sinai’s recent Beverly Connection buy. The Real Deal previously reported Ben Ashkenazy sold his Beverly Connection to Cedars-Sinai for about $270 million. It now appears that Cedars-Sinai doled out another roughly $34 million for some of the land below the mall, records reveal. The grant deed is signed by K&M Properties’ Robert Kazdan. More than a decade ago when Ashkenazy Acquisitions purchased the shopping center from Vornado Realty Trust, it entered into a ground lease agreement with K&M Properties. Ashkenazy assumed the 1987 ground lease, as Vornado had earlier. The agreement […]This article originally appeared on The Real Deal. Click here to read the full story.
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