Boston-based real estate investment firm Rockpoint Group LLC agreed to purchase the 493,000-square-foot 5900 Wilshire office tower in Los Angeles for $310 million, or $630 per square foot, The Real Deal reported, citing Real Estate Alert and confirmation from unnamed sources.
The 30-story property was brought to the market for sale in June by PGIM Real Estate, AXA Real Estate Investment Managers US LLC and Ratkovich Co.
The office tower is 93% leased to talent agency Buchwald, marketing firm Phenomenon and employment services agency Creative Circle. Anchor tenant SBE will vacate the tower in October.
Ratkovich and PGIM acquired the tower in 2005 for about $102 million. AXA acquired a 49% stake from PGIM in 2016 after a major renovation.
Ratkovich declined a request for comment while Rockpoint could not be reached, the Sept. 18 report added.
