A joint venture between The Praedium Group and ScanlanKemperBard Cos. sold a 213,518-square-foot office building located in downtown Los Angeles.
The value of the transaction was $30 million.
Built in 1971 and renovated in 1992, the 16-story property is located at 800 Wilshire Blvd.
A joint venture between Los Angeles-based The Ratkovich Co. and Prudential Real Estate Investors was the buyer.
At the time of sale, the property was 85 percent occupied.
Cushman and Wakefield represented the seller in this transaction.
Portland, Ore.-based ScanlanKemperBard Cos. is a real estate merchant banking and development advisory company.
New York City-based The Praedium Group is a real estate investor focusing on under-performing and under-valued assets throughout North America.
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