IRA Capital acquires Beverly Hills creative-office for $153m

IRA Capital (IRA) has purchased The Post, a class A creative office building located in the heart of Beverly Hills, Calif. The property was purchased for $153 million.

The 102,500-square-foot property located at 325 North Maple Drive is 92 percent leased to Live Nation Entertainment Inc., the world’s largest live entertainment promotion and ticketing company with more than 44,000 employees worldwide. The four-story building serves as Live Nation’s concerts division headquarters, a mission-critical segment of its operations, which accounts for 80 percent of the firm’s consolidated revenue. The remaining 8 percent of the building is leased to the U.S. Postal Service.

The Post underwent a $44 million redevelopment in 2019, which incorporates active design elements such as the light-filled open plan featuring 22-foot ceilings, a large-scale open stairway, and outdoor patios that promote a dynamic workspace ideal for creative collaboration. The highly amenitized LEED-