The jewel-box PacMutual property nestled near the Millennium Biltmore Hotel in the heart of downtown Los Angeles has sold for a bargain price, fetching just more than $100 per square foot, property records reveal The three interconnected office buildings, with a total of about 450,000 square feet, were sold to a trio of investors that includes Leo Pustilnikov for $48.5 million by Ivanhoe Cambridge, which listed it for $100 million two years ago. The original ask would have been a half-price sale after Ivanhoe Cambridge purchased the Beaux Arts-style offices for $200 million in 2015 from Rising Realty Partners. Rising […]
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