LOS ANGELES-Those who follow @GlobeStcom on Twitter and @GlobeStLIVEmay have seen a post teasing the announcement, but GlobeSt.com has learned that Madison International Realty has acquired a 49% ownership interest in One California Plaza for $295 million. Beacon Capital Partners LLC formerly owned the property, a 42-story, class-A office building in Downtown Los Angeles, in whole, and now holds the remaining 51% ownership interest.

“We have acquired a substantial interest in a top-tier asset with prominent tenants located in a premier West Coast office market, says Ronald M. Dickerman, president of Madison International Realty. “We are very pleased to be in partnership with Beacon on this trophy property.”

The property, located at 300 South Grand Ave. in downtown's Bunker Hill district, is in the California Plaza Development, and is a attractive options for quality tenants. Companies currently leasing office space in the building include Bank of the West, Skadden, Arps, Slate, Meagher & Flom LLP and Morgan Lewis & Bockius.