Fine Arts Building in Downtown Is Sold

The Fine Arts Building, a richly embellished office tower built in downtown Los Angeles during the 1920s, has been sold for almost $17.8 million to a Denver real estate investment company.

Alliance Commercial Partners bought the 12-story landmark at 811 W. 7th St. from Beverly Hills-based Blue Real Estate Management, real estate broker Bob Safai of Madison Partners said. Blue bought the 107,000-square-foot building for $12.7 million in 2003.

Roger Vincent