Tuesday, March 31, 2020

Lee Iacocca’s Los Angeles Mansion Listed for $27 Million

Iacocca’s Tuscan-style mansion includes 10,682 square feet with five bedrooms and eight baths on over an acre near the Bel Air Country Club near Los Angeles, CA

Photo credit: Hilton & Hyland       Source: www.hiltonhyland.com

LOS ANGELES, CA -- America’s favorite business leader from the 1960s to the ‘90s, one of the many things Lee Iacocca was known for were his famous quotes including “In times of great stress or adversity, it's always best to keep busy, to plow your anger and your energy into something positive.”
Lee Iacocca
 Also, “If you can find a better car, buy it.”
Iacocca, the longtime president of Ford Motor Company and chairman of Chrysler Corporation, could switch from engineering to sales, marketing, CEO, charity fundraising and politics with little effort, according to TopTenRealEstateDeals.com.

Ford Mustang
 After introducing the Ford Mustang, Lee jumped over to Chrysler where he launched the minivan concept, convinced the U.S. government to loan Chrysler $1.5 billion, and saved the company from collapse.
 He was well paid for his talent and by the time he died in 2019, Iacocca was worth $150 million. His beautiful home in Los Angeles, where he lived out his retirement before succumbing to Parkinson’s disease, is for sale at $26.9 million.

Bob and Dolores Hope
Iacocca was born to Italian immigrant parents who moved to Pennsylvania for work in the steel industry and the extended-family hot dog business. 

He proved himself to be a super achiever early on graduating with honors from high school, Lehigh for college and then winning a fellowship to Princeton.
Lee’s genius was in connecting the dots in the roadmap to the future. His celebrity status was cemented with the development of the Ford Mustang in 1964, the most successful new car ever introduced in the U.S. earning a profit over $1 billion in just its first two years, and saving Chrysler from the brink of disaster in 1979.

Frank and Barbara Sinatra
He did his own Chrysler commercials and was a frequent guest on television talk shows. In addition to the auto industry, Lee wrote several best-selling books; was successful in the restaurant, food and gaming businesses and was well known for heading the 1980’s Statue of Liberty restoration.
 He was a serious and popular candidate for U.S. president in 1988, but decided not to run.

 Betty White
Iacocca’s Tuscan-style mansion includes 10,682 square feet with five bedrooms and eight baths on over an acre near the Bel Air Country Club.
There are four ensuite guest rooms, a staff apartment, formal living and dining rooms, panelled library and five fireplaces.

Huge open-plan rooms that spill out onto lovely terraces are perfect for large-scale entertaining while other spaces invite intimate gatherings.
Crafted of luscious materials and craftsmanship, the home is bright and cheerful while retaining an elegant vibe. Immaculate grounds contain mature landscaping with outdoor living areas accented with topiary.

A chef’s kitchen is ready for enjoying family or guests. The master suite has a living area larger than many mansions' formal living rooms on a scale reminiscent of historical times when the aristocracy entertained guests in their private chambers.
 Outdoor recreation includes a swimming pool, spa and tennis courts to be enjoyed year-round in Southern California’s mild climate.

After his death in 2019, automotive-pioneer Lee Iacocca’s estate, where he entertained Bob and Dolores Hope, Frank and Barbara Sinatra, Priscilla Presley and Betty White, is now for sale at $26.9 million.
The listing agents are David Kramer and Rick Hilton of Hilton & Hyland, Beverly Hills.


Genelle C. Brown
Content Manager, Media Division
Phone:  434-480-4504

Twitter:  @toptenrealestat

JLL arranges refinancing for Two CityWestPlace in Houston, TX

Two CityWestPlace2107 CityWest Boulevard, Houston, TX

HOUSTON, TX, March 31, 2020 – JLL Capital Markets announced today that it has arranged refinancing for Two CityWestPlace, an office tower totaling 443,549 square feet in Houston’s Westchase submarket.

JLL worked on behalf of the borrower, Parkway Property Investments (“Parkway”), to secure the five-year, floating-rate loan. Regions Bank led the loan and syndicated half with Citizens Bank.  
Susan Hill
Two CityWestPlace is located at 2107 CityWest Boulevard within the larger four-building CityWestPlace office complex. 

The 29-acre park is positioned 12 miles west of Downtown Houston along the Sam Houston Tollway and is within close proximity to the Energy Corridor and CITYCENTRE plus residential areas such as Briargrove Park, Spring Branch and West Memorial. 

Jett Lucia
Tenants have access to various offerings shared across the four buildings, including expansive outdoor space, conference space, a dry cleaner, salon, dentist, car detailing and auto service, multiple food and beverage options and indoor and outdoor recreational offerings such as two fitness centers, a jogging track, soccer field, basketball court, sand volleyball and bocce ball court. 

Two CityWestPlace offers 20 stories of Class A office space, which is currently 99% leased.
The JLL Capital Markets team representing the borrower was led by Senior Managing Director Susan Hill and Analysts Jett Lucia and Sherri Rollins.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

City Center Houston, TX

 The firm's in-depth local market and global investor knowledge delivers best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or recapitalization. 

The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.


Kristen Murphy
Senior Manager, Public Relations
JLL Capital Markets
One Post Office Square, Suite 3500
Boston, MA 02109
T +1 617 848 1572
M +1 617 543 4873