Deals
California’s Tallest Building to Be Acquired for $367.5 Million
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The U.S. Bank Tower in Los Angeles, California’s tallest building, will be bought by Overseas Union Enterprise Ltd. for $367.5 million as the real estate company seeks to expand beyond its base in Singapore.
The office property, owned by a unit of MPG Office Trust Inc., was completed in 1989 and has a height of 1,018 feet (310 meters), OUE said today in a statement. The tower has about 1.4 million square feet (130,000 square meters) of space on 72 floors and six levels of underground parking, OUE said.