Rising Realty Sells Trust Building to UCLA at a Big Loss
In its quest for ever more space, the University of California — Los Angeles ( UCLA ) scored a sweet deal in Downtown L.A. thanks to sinking office...
In its quest for ever more space, the University of California — Los Angeles ( UCLA ) scored a sweet deal in Downtown L.A. thanks to sinking office property values . The university announced Thursday it acquired the historic Trust Building for new classrooms and administration offices. UCLA did not disclose the sales price, but sources told the L.A. Times the deal came in at less than $40 million. Rising Realty and Lionstone Investments acquired the 11-story, 334,000-square-foot building at 433 Spring Street in June 2016 for $80.