Praedium, Lincoln partnership lands L.A. building

A joint venture between The Praedium Group and Lincoln Property Co. purchased 331 North Maple Drive, an 80,000-square-foot office building located in Beverly Hills, Calif.

The value of the transaction was $33 million. 

Built in 2000, the class A+ property comprises three stories and was 77 percent leased to a major entertainment company at the time of sale.

Bob Safai of Madison Partners of Los Angeles represented the seller, whose identity was not disclosed.

Dallas, Texas-based Lincoln Property Co. is a full-service real estate company.

New York City-based The Praedium Group is a real estate investor focusing on under-performing and under-valued assets throughout North America.