Adam Rubin And Andrew Shanfeld Of Carolwood Acquire Office Asset From Bruce Flatt Of Brookfield Properties For $130M

The office asset located at 725 South Figueroa Street in Los Angeles is currently under contract with a sale price of $130,000,000. The property encompasses a total of 920,000 square feet, resulting in a price per square foot of $141.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $130,000,000
• Buyer: Adam Rubin & Andrew Shanfeld - Carolwood
• Seller: Bruce Flatt - Brookfield Properties
• Square Footage: 920,000
• Price Per Square Foot: $141
• Market: Los Angeles
• Note: Carolwood is in escrow to acquire the property, which has been in receivership since 2023 and has a CMBS loan in special servicing set to mature in October.

Brokers involved in the transaction include Adam Rubin, Andrew Shanfeld, and Bruce Flatt, representing Carolwood and Brookfield Properties, respectively. The transaction is noteworthy due to its valuation compared to Brookfield's previous $305 million debt on the property.