Real Estate/Development
Oct. 2, 1999
Hines buys Sanwa Bank Plaza
Hines placed a large bet on the downtown L.A. market last month when it purchased Sanwa Bank Plaza building in downtown Los Angeles from Mitsui Fudosan (USA) Inc.
Hines placed a large bet on the downtown L.A. market last month when it purchased Sanwa Bank Plaza building in downtown Los Angeles from Mitsui Fudosan (USA) Inc.
Industry sources estimate the sale price at $215 million, but Hines would not confirm the amount.
"When Mitsui came to us with the desire to sell, we agreed to buy the project at a price that we both thought was fair with a very short closing period and no due diligence," says Colin Shepherd, Hines senior vic...
Industry sources estimate the sale price at $215 million, but Hines would not confirm the amount.
"When Mitsui came to us with the desire to sell, we agreed to buy the project at a price that we both thought was fair with a very short closing period and no due diligence," says Colin Shepherd, Hines senior vic...
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