Praedium, Lincoln partnership lands L.A. building

Adds 80,000 square feet of office space

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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. *** Send tips, feedback or a letter to the editor to dave@inman.com or call (510) 658-9252, ext. 138. ...