Kennedy-Wilson Buys L.A. High-Rise

The 19-story Wilshire Bixel building in Los Angeles was purchased for about $24.5 million by Santa Monica-based Kennedy-Wilson International Inc. The sale was part of the company’s plans to expand its holding of downtown Los Angeles real estate, where it now owns and operates about 1.3 million square feet of space, a company spokesman said. The Wilshire Bixel building, west of the Harbor Freeway, was sold by American Trading R/E Properties, which is a tenant in the building. The structure is currently 92% leased.