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.”

Foxfield LLC, in partnership with IRA Capital, has sold the Von Karman Creative Campus, a 25-acre site in Irvine, California, to Lennar Corporation. Reportedly one of Orange County’s largest recent land sales at $232 million, the transaction marks the conclusion of a multi-year redevelopment and entitlement effort to transform an aging office campus into a fully entitled residential development opportunity.

The project was guided by a long-standing partnership between Foxfield and IRA Capital and involved extensive collaboration with the City of Irvine. Originally comprised of nine office buildings and multiple tenants, the site required a coordinated strategy encompassing tenant transitions, entitlement planning and community engagement.

“The Von Karman Creative Campus is an example of what can be achieved through collaboration, disciplined execution, and a shared long-term vision,” said Mark Tang, managing director and head of development and construction at Foxfield. “We are grateful to our partners at IRA Capital, the City of Irvine and Lennar for their professionalism and commitment throughout the process.”

Drawbridge Realty has acquired 2220 Colorado Ave., a 225,773-square-foot headquarters building in Santa Monica’s Silicon Beach neighborhood, for a reported $185 million. The building is 100% triple-net leased to Universal Music Group (UMG) as its operational headquarters.

“This is a high-quality property with a strong, longtime tenant and a very creative build-out that establishes the building as one of the signature assets in Santa Monica,” said Jaden Rosselli, VP of investments & asset management, Drawbridge Realty. “It’s a wonderful addition to our national portfolio.”

The seller, Clarion Partners, was represented by Newmark’s Kevin Shannon, Alex Foshay, Ken White, Rob Hannan, Laura Stumm and Michael Moll. UMG recently signed a long-term lease extension at the property.

Also known as Arboretum Gateway, 2220 Colorado Ave. has two UMG-operated recording studios, several conference facilities, secure parking with direct elevator access, an onsite food commissary and coffee bar, collaboration areas and outdoor decks.