Office building sold

The high-rise office building at 400 S. Hope St. in downtown Los Angeles has been acquired by CBRE Global Investors, an affiliate of Los Angeles real estate brokerage CBRE Group Inc. The price of the sale by New York investors Tishman Speyer and BlackRock Inc. was not disclosed, but downtown real estate experts familiar with the property valued it at $236 million. The new owners intend to improve the building, including adding a high-end restaurant, and find additional tenants, real estate broker Kevin Shannon of CBRE Group said.
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