Cedars-Sinai Medical Center has acquired the Beverly Connection shopping center half a mile away from its main campus. The seller was Ashkenazy Acquisition Corp., and the hospital paid $270 million for the 10-acre property at 100 N. La Cienega Blvd., reported L.A. Business First.
For the time being, neither shoppers nor retailers at Beverly Connection will see any changes, according to Cedars-Sinai. Instead, the acquisition represents planning for the future, rather than an immediate redevelopment play.
“The strategic acquisition of the Beverly Connection will provide long-term options for Cedars-Sinai to revitalize our medical campus and provide the most advanced care to our patients and the community well into the next century,” said Peter L. Slavin, MD, president and CEO of Cedars-Sinai Medical Center and Cedars-Sinai Health System. “We are excited by this opportunity to shape the future of healthcare in Los Angeles and leave an enduring mark on the city’s well-being for generations to come.”
