Developer Izek Shomof purchased a Long Beach office tower for $50 million, The Real Deal has learned. The 24-story, 460,000 square foot property at 111 W. Ocean Boulevard, called Landmark Square is one of the newer and taller offices in the seaside downtown, located at the key intersection of Pine Avenue. The seller, a Manulife Financial Corporation affiliate, paid $135.5 million in 2013 when it acquired the property from Brookfield Properties, according to an announcement. The price per square foot has gone from $295 to $109 under Manulife’s ownership. Head of transactions and capital markets for another Manulife unit, Jessica […]
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