Mani says the firm's portfolio has grown by nearly 50% with theacquisition of the building, which the firm bought fromCommonwealth Partners and CalPERS. Bob Safai of Madison Partnersrepresented Mani Bros., with the selling entity representingitself.

Mani points out that the firm bought the building at well belowreplacement cost. He says his firm is very comfortable withDowntown Los Angeles and believes the office market there is strongnow and will grow even stronger. The company also owns the 24-story660 South Figueroa building, in which Mani Bros isheadquartered.

The 801 Tower is more than 90% leased to A-credit tenants,primarily law and insurance firms. Mani notes that the buildingalso has two new ground floor retail tenants, Patina Group's ZuccaRistorante and The Corner Bakery. The 801 Tower, a postmodernbuilding, is one of the last buildings completed in downtown LosAngeles. It was constructed in 1992 for $175 million by a jointventure between Takenaka Corp. and Mitsubishi Banking and Trust.Major tenants in the building include Chubb Insurance; Squire,Sanders & Dempsey; Sedgwick, Detert, Moran & Arnold; andBlue Cross.