Hustler Magazine's HQ Trades For $89M To REIT

Law360, New York (May 16, 2013, 8:47 PM EDT) -- Real estate investment trust Douglas Emmett Inc. has picked up the Beverly Hills home of Hustler Magazine from owner Larry Flynt for $89 million in a sale-and-leaseback deal that will keep the publishing company as an anchor, the parties said Wednesday.

The deal values the 225,000-square-foot property at about $395 per square foot, according to Douglas Emmett. It was unclear for how long Larry Flynt Publications and its adult entertainment empire have signed up to continue staying at the tower. Representatives for LFP and Douglas could...
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