Tuesday, March 12, 2013

Singapore Group to Acquire U.S. Bank Tower For $367.5M




National Commercial Real Estate News From CoStar Group





Singapore Group to Acquire U.S. Bank Tower For $367.5M



An affiliate of Overseas Union Enterprise Ltd. (OUE) has agreed to acquire the 72-floor U.S. Bank Tower and a parking garage in downtown Los Angeles from MPG Office Trust, Inc. (NYSE: MPG) for $367.5 million.

The 1,018-foot tower in Bunker Hill built in 1989, the tallest building west of the Mississippi River, has struggled in recent years, with 56.6% occupancy as of Dec. 31, 2012, according to an MPG regulatory filing last week.

The $250...






No comments:

Post a Comment