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Shorenstein Completes $270M Aon Tower Buy

LOS ANGELES—Located at 707 Wilshire Blvd. in the financial district, the purchase of the 1.1-million-square-foot 59%-leased office tower includes an adjacent parking structure, GlobeSt.com reports in this UPDATE to a previous story.

By Kelsi Maree Borland | Updated on October 13, 2014

LOS ANGELES—Shorenstein Properties has closed on the purchase of the Aon Office Tower in Downtown Los Angeles. In an earlier story, GlobeSt.com reported that the San Francisco-based investor entered into an agreement to purchase the 1.1-million-square-foot, 62-story office tour from Beacon Capital Partners for $270 million, according to industry sources.

The sale of the property includes an adjacent parking structure. Shorenstein made the purchase on through its tenth real estate investment fund, which has $1.23 billion in capital commitments from various investors. The fund was originally formed in 2010. Neither Shorenstein Properties nor Beacon Capital Partners responded to a request for comment prior to the publication of this article, and neither released the terms of the transaction.

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