Israel-based Harel Insurance and Finance Group and U.S. REIT Colony NorthStar have acquired an office building in downtown Los Angeles for $460 million, according to Reuters.
Harel will hold 45 percent of the property.
The property is a 42-story class A office building with 1.05 million square feet. The building is considered one of the trophy assets in the submarket, and it is has LEED Platinum certification. The property is approximately 90 percent occupied.
This is Harel's fourth real estate transaction on the U.S. West Coast in recent years.
