News
National Office

CBRE's DTLA HQ Sells For $330M

CBRE Global Investors sold CBRE's global HQ at 400 S Hope St in downtown LA to a JV between GLL RE Partners and PNC Financial Services.

CBRE occupied the top two floors of the 700k SF building. It also debuted its Workplace360 office model there.

The deal's terms were not disclosed, but the property was purchased for $330M, according to GlobeSt.

There were reportedly multiple offers for the office building, which the investor bought four years ago for $235M.

CBRE’s Todd Doney, John Zanetos and Michael Longo, along with Newmark Grubb Knight Frank's Kevin Shannon, Ken White, Michael Moll and Rob Hannan repped CBRE.

CBRE's Val Achtemeier and Brad Zampa of debt and structured finance/capital markets arranged the financing on behalf of the buyer.

The debt team secured a seven-year, $157M loan through Wells Fargo Bank. [GS]

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's National Newsletters
Related Stories

Wildfires Reignite Case For Landlords To Invest In Air Quality

San Dimas Commerce Center Trades For $41M: The Los Angeles Deal Sheet

Contractors Feel Squeeze As Prices Rise 7.4%, Backlog Shrinks

Brookfield, SWI Form $694M Multifamily Venture, Plan $500M In Sales

3 Suburban Philly Office Buildings With Strong Occupancy Hit The Market

Moody's Warns Rising Heat, Water Scarcity Are Poised To Reshape Asset Values

Lightstone Group Acquires Amazon Robotics Building For $43M

Real Estate Has An AI Problem. A McKinsey Exec Says The Issue Isn't Tech

Time For A Change? What Data Centers Must Consider To Retrofit A Generator

100% Of European Asset Managers Hold Stranded Assets. So Why Aren't We Fixing Them?

With Data Centers Devouring Construction Materials, Mass Timber May Finally Have Its Moment

'Not In The Business Of Losing Our Customers': Renewals Dominate Boston Office Market