Kim Kardashian's shapewear brand, Skims, is moving forward with a deal in Hollywood after Kingsbarn Realty Capital resurrected a previously failed acquisition of 1601 North Vine Street for $105 million. The deal faced setbacks when KeyBank withdrew financing, but Kingsbarn managed to secure additional loans and negotiate terms with property stakeholders. The building, once housing WeWork, was slated for leasing by Skims, which is expanding aggressively in the fashion market. This turnaround exemplifies resilience and strategic maneuvers in the competitive real estate environment.
Kingsbarn Realty Capital has revived a deal to acquire 1601 North Vine Street for $105 million, despite prior complications with financing that nearly derailed the agreement.
The initial contract for the property was signed at over $1,054 per square foot when it was vacant following WeWork's departure, indicating strong investor interest despite market challenges.
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