We have a new leader for the largest Los Angeles office transaction in 2026 so far. Capital Group has taken those honors with its $210 million purchase of 333 S. Hope Street in Downtown, also known as the Bank of America Plaza. The deal is also the largest multi-tenant deal to take place in LA since 2023.
The transaction was made through receivership, with Chris Neilsen, managing partner and co-head of Trigild, serving as the court-appointe that seized control of the asset. According to a report from The Real Deal, Brookfield Properties defaulted on the $400 million loan tied to Bank of America Plaza.
Colliers arranged the sale, with JLL representing Capital Group.
According to Sean Fulp, vice chair at Colliers, the 57-story property is "one of the largest and most recognizable office towers in Los Angeles," and it speaks to the investor interest in premium product currently.
"The sale is a meaningful step forward in the evolution of Downtown Los Angeles and another benchmark transaction for our team," Mark Schuessler, executive vice president of Colliers who was involved in arranging the deal, said in a statement.
"We generated interest from both private and institutional investors, as well as foreign capital, and ultimately a partial user. In conjunction with the receiver and special servicer, we were able to deliver pricing and deal terms that exceeded expectations, without a need for seller-financing."
In addition to the buy, Capital Group is planning on consolidating its local operations into the building, with the anticipation of it housing over 2,100 employees from the company. Additionally, the LA-based firm said it will pour capital into Bank of America Plaza in efforts to turn it into a "best-in-class standard."
Already, the property is listed as a Class A, offering 1.4 million square feet of space, with an amenity package.
The deal is great timing, as LA's office sector is starting to rebound. In fact, the first quarter marked the city's first positive net absorption seen in several years, according to a report from JLL. Trophy assets were a standout in terms of rents, with this segment enjoying a 12.9 percent gain quarter-over-quarter.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.