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Sign in Sign up for a FREE subscriptionRockpoint to purchase L.A. office building for $310m
Rockpoint Group has agreed to pay $310 million for 5900 Wilshire, a 493,000-square-foot office building in the Miracle Mile neighborhood of Los Angeles, reported other media outlets.
The sellers of the 30-story office include Pramerica Real Estate Investors, Ratkovich Co. and AXA Investment Managers – Real Assets.
The property is across the street from the Los Angeles County Museum of Art, the largest art museum in the western United States, which also occupies office space at 5900 Wilshire. Other tenants include international companies such as Sundance Institute.
Ratkovich Co. and Pramerica Real Estate Investors paid $102.5 million for the office in 2005. And AXA Investment Managers – Real Assets, on behalf of AXA Insurance Cos., has acquired a 49 percent stake in the office in 2016.
Pramerica Real Estate Investors is the real estate business of PGIM Inc.,
