Tower Sold in San Diego

The John Burnham & Co. Building, a 350,000-square-foot, 20-story office tower on the northwest corner of Ash and India streets in downtown San Diego, has been acquired for $22.5 million.

The buyer is a joint-venture general partnership consisting of two La Jolla couples and a subsidiary corporation of Harvard University.

Selling the property was Capital Pacific Holdings Inc., owned by Valley Federal Savings Inc. of Van Nuys and six other financial institutions that formed the original lending group for the three-year-old building.