601W scoops up distressed DTLA offices from Brookfield with $132M loan
601W Companies has completed its acquisition of one of Brookfield’s distressed office towers in Downtown Los Angeles. The New York-based firm purchased the 55-story Class A office building at 333 South Grand Avenue, known as the Wells Fargo Center North Tower, for an undisclosed amount, Commercial Observer reported. 601W was reportedly in talks to pay roughly $180 million earlier this year, per CO. The firm made the buy with a $132 million first-mortgage acquisition loan from Northwind Group. The loan also includes an additional $48 million “good news” lending facility for costs related to future leasing. The deal lands as […]This article originally appeared on The Real Deal. Click here to read the full story.
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