Transactions - SEPTEMBER 10, 2015

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

Ivanhoé Cambridge buys L.A. office asset for $200m

by Andrea Waitrovich

Ivanhoé Cambridge and Callahan Capital Properties have acquired the PacMutual office property, located at 523 W. Sixth St. in downtown Los Angeles, for approximately $200 million.

PacMutual is located in close proximity to the Seventh Street retail corridor, L.A. LIVE entertainment complex, STAPLES Center arena, Broadway Theater District, South Park residential neighborhoods, and mixed-use developments such as The Bloc and Wilshire Grand.

Los Angeles’ office market has seen a high transaction volume recently, averaging $2.6 billion in completed deals per quarter during the past six quarters, according to Real Capital Analytics. And, since the first quarter of 2013, when the market saw $948 million in closed office deals, Los Angeles’ quarterly office transaction volume has not dipped below $1 billion. Thus far in the third quarter, 104 office properties have been sold, totaling $2.3 billion. The top buyer of Los Angeles office properties in

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy