Kingsbarn Revives $105M Deal for Skims' Hollywood Headquarters

After a protracted three-year legal battle, Kingsbarn Realty Capital has successfully acquired the Hollywood headquarters of Kim Kardashian's shapewear brand, Skims, for $105 million. The eight-story office building, located at 1601 North Vine Street, was purchased at approximately $905 per square foot. This transaction marks one of the largest office deals in Los Angeles for 2025. ​

The acquisition faced significant hurdles, including a collapsed financing agreement with KeyBank and disputes over the building's occupancy status. Initially, in December 2022, Kingsbarn had agreed to purchase the property for $122 million. However, KeyBank later withdrew its $97 million financing commitment, leading to the deal's collapse. Subsequently, Kingsbarn filed lawsuits against KeyBank, developer J.H. Snyder, and co-owner Oscar Englebert, alleging unfair business practices and seeking to recover a $2.5 million deposit.​

Complicating matters, Skims had signed a 15-year lease for the entire 116,000-square-foot building in January 2023. Kingsbarn's ability to secure financing was contingent upon proving the building's vacancy, but Englebert allegedly obstructed access to verify this, according to court filings. Despite these challenges, a settlement was reached in December 2024, reducing the purchase price to $105 million.​

Financing for the acquisition included a $52 million loan from Hankey Capital and additional funds from Israeli firm IBI Volcano. Kingsbarn plans to place the property into a Delaware Statutory Trust, offering fractional ownership opportunities to private investors through 1031 exchanges.​

Sources:

• Abigail Nehring, "Kingsbarn Brings $105M Skims HQ Deal Back to Life," The Real Deal, April 18, 2025.

• Dana Bartholomew, "Kingsbarn Snaps Up Hollywood Offices Occupied by Kim Kardashian for $105M," The Real Deal, April 14, 2025.