In one of the largest new leases in Century City since the recession, investment bank Houlihan Lokey has agreed to move its headquarters into three floors in the former MGM Tower in a $60-million lease transaction.
Houlihan Lokey will move into 80,808 square feet last rented by entertainment studio Metro-Goldwyn-Mayer Inc. on the fourth, fifth and sixth floors of the building at 10250 Constellation Blvd., said property broker Hunt Barnett of L.A. Realty Partners.
After emerging from bankruptcy protection in December, MGM announced that it would relocate to Beverly Hills in a cost-saving move. MGM Tower was renamed Constellation Place by its landlords, a partnership headed by JMB Realty Corp.
Houlihan Lokey will move there in November from two other office buildings in Century City.
"We are excited to bring all of our Los Angeles-based colleagues together under one roof again," Co-Chief Executive Scott Beiser said. "The rapid growth of our investment banking business has made this move long overdue."
Houlihan Lokey is an international investment bank specializing in mergers and acquisitions, capital markets, financial restructuring and valuation.