Loan on distressed Brookfield-owned DTLA office tower sells for $115M
The loan on the Wells Fargo Center South Tower in downtown has traded hands at a discount, according to an announcement via Newmark, which brokered the deal. The price tag for the Bunker Hill skyscraper was around $115 million, or about $100 per square foot, per a person familiar. That is much less than the $290 million loan on the tower at 355 South Grand Avenue, per the announcement. The buyer was Kam Sang Company, an L.A. County-based real estate investment and development company, and the seller was a consortium of lenders. The skyscraper was once owned by Brookfield. When it hit […]This article originally appeared on The Real Deal. Click here to read the full story.
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