Oaktree Capital Management has secured a three-year extension of a loan on a 48-story Downtown Los Angeles office tower that was featured in the 1990s hit TV show LA Law.
AIG Insurance Co. has extended until 2026 a $259M loan backed by the 914,000-square-foot office tower at 444 South Flower, which Oaktree acquired in a foreclosure sale in January.
Oaktree said in a statement that the extended financing for the DTLA tower will enable it to invest in enhancing sustainability features, creating spec suites and adding amenities in building. JLL is handling the leasing for the building, while CBRE was retained by the company to oversee property management.
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