AGENDA REPORT
Meeting Date: August 4, 2026
Item Number:
To: Honorable Mayor & City Council
From: Logan Phillippo, Real Property Development Manager Jessica Garcia, Management Analyst
Subject: SECOND AMENDMENT TO PURCHASE AND SALE AGREEMENT
BY AND AMONG THE CITY OF BEVERLY HILLS, A CALIFORNIA
MUNICIPAL CORPORATION, CENTURY BEVERLY HILLS, LLC, A
CALIFORNIA LIMITED LIABILITY COMPANY, AND GRL
PARTNERSHIP, CONCERNING REAL PROPERTY LOCATED AT
401 SOUTH ROBERTSON BOULEVARD.
Attachment: 1. Second Amendment
RECOMMENDATION
Staff recommends City Council approve a Second Amendment to Purchase and Sale Agreement by and among the City of Beverly Hills, a California Municipal Corporation, Century Beverly Hills, LLC, a California Limited Liability Company, and GRL Partnership, concerning real property located at 401 South Robertson Boulevard.
INTRODUCTION
The City entered into a purchase and sale agreement (the “PSA”) on March 4, 2026, to acquire a property with a former gas station use at 401 South Robertson Boulevard (the “Property”) for $5,850,000 from seller Century Beverly Hills, LLC (the “Seller”). The City then entered into a First Amendment on May 22, 2026, extending the Contingency Period from May 28, 2026, through June 15, 2026.
By approving the Second Amendment, the City will waive the buyer’s contingencies, and the acquisition price will be reduced by $600,000, from $5,850,000 to $5,250,000. Escrow shall close within ten business days after the effective date of the Second Amendment.
DISCUSSION
The City has taken and continues to take steps to acquire properties in key areas of Beverly Hills to facilitate the development of affordable housing units as set forth in the Housing Element. While there are no specific development plans at this time, the subject Meeting Date: August 4, 2026
Property is a strategic acquisition opportunity due to its location, size, and proximity to transit. The site may be suitable for future affordable housing, mixed-use development and/or other public uses, subject to further analysis, feasibility studies, and future City Council direction.
The subject Property is located at 401 South Robertson, at the southwest corner of the Olympic Boulevard and Robertson Boulevard intersection. It is situated in the Mixed-Use Overlay Zone, with an underlying C-3 Commercial Zone designation.
Purchase and Sale Agreement
The City entered into the PSA on March 4, 2026, for the acquisition of 401 S. Robertson Blvd. The PSA included a contingency period of 85 days. During this period, staff conducted due diligence investigations relating to (i) matters affecting title, (ii) a fault rupture hazard investigation, (iii) general site conditions, and (iv) environmental conditions relating to the Property’s former gas station use.
First Amendment to Purchase and Sale Agreement
The City then entered into the First Amendment on May 22, 2026, extending the Contingency Period from May 28, 2026, to June 15, 2026, to complete discussions regarding the findings of the environmental due diligence reports.
Second Amendment to Purchase and Sale Agreement
The Second Amendment includes the following key terms:
• Purchase Price: A purchase price in the amount of $5,250,000 (A reduction in price in the amount of $600,000);
• Deposit: A deposit of $175,500 (three percent of the purchase price), remains in escrow and will be applied toward the Purchase Price;
• Buyer Contingencies: The City will waive all buyer contingencies and proceed with the close of escrow;
• Close of Escrow: Escrow shall close within 10 business days; • All other terms and conditions from the PSA remain.
FISCAL IMPACT
City Council approval of the Second Amendment to the PSA would result in a one-time expense of $5,250,000 plus closing costs. City Council previously approved an appropriation for the transaction on March 4, 2026, and funding is available within the Capital Assets Fund capital improvement program for land acquisition. With the approval of this amendment, Staff will also decrease the previously approved appropriation to correspond with the $600,000 price reduction.
Ryan Gohlich
City Manager
Approved By
Attachment 1
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B0785-0001\3281011v3.doc
SECOND AMENDMENT TO
PURCHASE AND SALE AGREEMENT
THIS SECOND AMENDMENT TO PURCHASE AND SALE AGREEMENT (the “Second Amendment”) is dated as of August 4, 2026 (the “Second Amendment Effective Date”), and is entered into by and among the City of Beverly Hills, a California Municipal Corporation (“Buyer”), and Century Beverly Hills, LLC, a California limited liability company (“Seller”), and GRL Partnership (the “Releasing Party”) (collectively, Buyer, Seller and the Releasing Party are called the “Parties”).
RECITALS
A. Buyer, Seller and the Releasing Party entered into that certain Purchase and Sale Agreement, Joint Escrow Instructions, and Release dated March 4, 2026, which was amended on May 22, 2026 (collectively, the “Agreement”). Capitalized terms used but not defined herein shall be defined as set forth in the Agreement.
B. Buyer, Seller and the Releasing Party desire to further amend the Agreement.
C. On June 11, 2026 the then City Manager of Buyer sent a notice (“Buyer’s Cancelation Notice”) to the Escrow Holder and to Seller and the Releasing Party; the Escrow Holder replied by an email dated June 12, 2026 confirming receipt of Buyer’s Termination Notice and therein Escrow Holder also requested that Seller confirm and acknowledge that Buyer’s Termination Notice effected a termination under the Agreement, after which Escrow Holder’s email stated it would proceed to cancel escrow and return to Buyer the Deposit. [Seller did not acknowledge the cancelation and escrow was not terminated by Escrow Holder, nor was the Deposit returned to Buyer; Buyer, Seller and the Releasing party desire and hereby direct that Escrow Holder reopen escrow pursuant to the Agreement, as hereby amended, and apply the Deposit from the prior agreement to this Agreement, as hereby amended.
AGREEMENT
NOW, THEREFORE, in consideration of the above recitals (which are incorporated herein by this reference) and of the mutual covenants contained in this Amendment, the parties hereto agree as follows:
1. Contingency Period; Opening and Closing of Escrow. Buyer, Seller and the Releasing Party hereby acknowledge that the Contingency Period under Section 6.1 of the Agreement had not lapsed prior to the delivery of the Termination Notice. Buyer is hereby deemed to have waived Buyer’s Contingencies. The Parties agree that Escrow shall be reopened promptly after the Second Amendment Effective Date and shall direct Escrow Holder regarding reopening Escrow and cooperate regarding the same. The Close of Escrow or Closing shall occur within ten (10) business days after the Second Amendment Effective Date, (the “Closing Date”), notwithstanding anything to the contrary in the Lease or herein.
2. Purchase Price Reduction. Section 3 of the Agreement (Purchase Price) is amended and restated in its entirety (for the avoidance of doubt, the previous purchase price stated in the Docusign Envelope ID: BF0F7392-A0D2-8C70-8074-D8F07B889389
-2-
B0785-0001\3281011v3.doc
Agreement is no longer applicable), as follows: The purchase price for the Property (“Purchase Price”) is FIVE MILLION TWO HUNDRED FIFTY THOUSAND AND NO/100 DOLLARS ($5,250,000.00).
3. Conflict. Except as amended herein, the Agreement remains in full force and effect.
To the extent of any conflict between this Second Amendment and the Agreement, this Second Amendment shall govern.
4. Counterparts. This Second Amendment may be executed in one or more counterparts, each of which shall be deemed as original but all of which together shall constitute one and the same instrument.
5. Escrow Instructions. Buyer and Seller shall deliver a copy of this executed Second Amendment to the escrow for the sale, and confirm this Second Amendment constitutes additional escrow instructions.
IN WITNESS WHEREOF, the parties hereto have entered into this Second Amendment as of the day and year first above written.
BUYER: SELLER:
CITY OF BEVERLY HILLS,
a California municipal corporation
By:
Craig Corman, Mayor
CENTURY BEVERLY HILLS, LLC,
a California limited liability company
By:
Gerald Whitehead, Manager
ATTEST:
_________________________________
Huma Ahmed, City Clerk
APPROVED AS TO FORM:
_________________________________
Laurence S. Wiener, City Attorney
RELEASING PARTY:
GRL PARTNERSHIP,
a California Limited Partnership
By:
Gerald Whitehead, Manager
Docusign Envelope ID: BF0F7392-A0D2-8C70-8074-D8F07B889389
-3-
B0785-0001\3281011v3.doc
APPROVED AS TO CONTENT:
_________________________________
Ryan Gohlich, City Manager
_________________________________
Logan Phillippo, Real Property
Development Manager
Docusign Envelope ID: BF0F7392-A0D2-8C70-8074-D8F07B889389 Certificate Of Completion
Envelope Id: BF0F7392-A0D2-8C70-8074-D8F07B889389 Status: Sent Subject: Complete with Docusign: 260804 - Second Amendment 401 S. Robertson PSA.pdf Source Envelope:
Document Pages: 3 Signatures: 4 Envelope Originator:
Certificate Pages: 2 Initials: 0 Jessica Garcia
AutoNav: Enabled
EnvelopeId Stamping: Enabled
Time Zone: (UTC-08:00) Pacific Time (US & Canada)
455 N. Rexford Drive
Beverly Hills, CA 90210
[email protected]
IP Address: 198.245.189.166
Record Tracking
Status: Original
7/28/2026 9:46:02 AM
Holder: Jessica Garcia
[email protected]
Location: DocuSign
Signer Events Signature Timestamp
Gerald Whitehead
[email protected]
Manager
Security Level: Email, Account Authentication
(None) Signature Adoption: Pre-selected Style
Using IP Address: 75.3.102.201
Sent: 7/28/2026 9:50:15 AM
Viewed: 7/28/2026 9:51:07 AM
Signed: 7/28/2026 10:01:41 AM
Electronic Record and Signature Disclosure:
Not Offered via Docusign
Andrew Bragin for
[email protected]
Security Level: Email, Account Authentication
(None)
Signature Adoption: Pre-selected Style
Using IP Address: 208.87.233.201
Sent: 7/28/2026 10:01:42 AM
Viewed: 7/28/2026 10:02:42 AM
Signed: 7/28/2026 10:05:30 AM
Electronic Record and Signature Disclosure:
Not Offered via Docusign
Logan Phillippo
[email protected]
Security Level: Email, Account Authentication
(None)
Signature Adoption: Uploaded Signature Image
Using IP Address: 198.245.189.166
Sent: 7/28/2026 10:05:31 AM
Viewed: 7/29/2026 11:17:42 AM
Signed: 7/29/2026 11:18:01 AM
Electronic Record and Signature Disclosure:
Not Offered via Docusign
Logan Phillippo
[email protected]
Security Level: Email, Account Authentication
(None)
Sent: 7/29/2026 11:18:03 AM
Viewed: 7/29/2026 11:42:52 AM
Electronic Record and Signature Disclosure:
Not Offered via Docusign
Ryan Gohlich
[email protected]
Security Level: Email, Account Authentication
(None)
Electronic Record and Signature Disclosure:
Not Offered via Docusign
Signer Events Signature Timestamp
Huma Ahmed
[email protected]
Security Level: Email, Account Authentication
(None)
Electronic Record and Signature Disclosure:
Not Offered via Docusign
Craig A. Corman
[email protected]
Security Level: Email, Account Authentication
(None)
Electronic Record and Signature Disclosure:
Not Offered via Docusign
In Person Signer Events Signature Timestamp
Editor Delivery Events Status Timestamp
Agent Delivery Events Status Timestamp
Intermediary Delivery Events Status Timestamp
Certified Delivery Events Status Timestamp
Carbon Copy Events Status Timestamp
Logan Phillippo
[email protected]
Security Level: Email, Account Authentication
(None)
Sent: 7/28/2026 9:50:15 AM
Viewed: 7/28/2026 9:50:37 AM
Electronic Record and Signature Disclosure:
Not Offered via Docusign
Witness Events Signature Timestamp
Notary Events Signature Timestamp
Envelope Summary Events Status Timestamps
Envelope Sent Hashed/Encrypted 7/28/2026 9:50:15 AM
Envelope Updated Security Checked 7/28/2026 9:52:50 AM
Envelope Updated Security Checked 7/28/2026 9:52:50 AM
Envelope Updated Security Checked 7/28/2026 9:52:50 AM
Envelope Updated Security Checked 7/28/2026 9:52:50 AM
Payment Events Status Timestamps