Los Angeles’ downtown landmark Church of the...

Los Angeles’ downtown landmark Church of the Open Door was sold for the third time in three weeks, this time to a partnership of the Koll Co. and Ohbayashi America. The American and Japanese firms plan to raze the building and erect high-rise offices. The firms paid $23.5 million for the 72-year-old building, providing a quick $2.5-million profit for developer John Severson. A private trust used by Severson as a vehicle for real estate dealings acquired the property Feb. 17 in a complicated transaction monitored by a federal bankruptcy judge. On that day, the Glendora-based Church of the Open Door sold the building for $20 million to the bankrupt Ninth & Grand Partnership, which in turn sold the building to Severson’s trust for $21 million.