The property asset involved in this transaction is an office building located at 777 South Figueroa Street in Los Angeles. The sale was executed for a price of $120,000,000, covering a total square footage of 1,025,641. The price per square foot calculated for this transaction is $117.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $120,000,000
• Seller: Charles W. Scharf
• Seller Agency: Wells Fargo
• Market: Los Angeles
• Square Footage: 1,025,641
• Price per Square Foot: $117

This transaction involves a Chinese billionaire who is set to acquire the distressed 777 Tower, which was managed by a syndicate led by Wells Fargo. This sale comes after Brookfield Asset Management's default on loans tied to the property and follows a previous attempt to secure a $145 million deal with Consus Asset Management that was unsuccessful.