Will the owner of Maple Plaza in Beverly Hills sell the underperforming office property?

Real Estate Alert, April 21, 2004

Will the owner of Maple Plaza in Beverly Hills sell the underperforming office property? At least five investors have submitted bids around $100 million for the 281,000-square-foot building, including Tishman Speyer, a joint venture between Lincoln Property and Praedium Fund V, and two family trusts.

But the buzz is there's only a 50/50 chance that owner David Wilstein will move forward--since he recently secured an extension on an $85 million mortgage and could choose to refinance. In either case, he'll likely decide soon. Secured Capital and Cushman & Wakefield are co-brokering the property, which is located at 335345 North Maple Drive.