DTLA’s Bank of America Plaza finds buyer after Brookfield’s $400M default
Brookfield’s Bank of America Plaza office tower in Downtown Los Angeles found a buyer from inside the building. Capital Group entered an agreement to buy the 55-story building at 333 South Hope Street for $210 million or roughly $150 per square foot for the nearly 1.4-million-square-foot building, Commercial Observer reported, citing a source familiar with the tower. Capital Group, one of the world’s largest investment management firms, has its headquarters in the building. Brookfield defaulted on an estimated $400 million in commercial mortgage backed securities debt connected to the skyscraper, and the debt was listed for sale last year, The […]This article originally appeared on The Real Deal. Click here to read the full story.
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