Capital Group Buying L.A. Office Tower for Around $210M: Sources
It’s one of the last towers that once made up Brookfield’s expansive Downtown L.A. office portfolio
By Greg Cornfield March 26, 2026 6:00 pm
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Capital Group, one of the largest investment management firms in the world, announced it has entered an agreement to acquire the Bank of America Plaza office tower in Downtown Los Angeles.
Brookfield sold the 55-story building at 333 South Hope Street for about $150 per square foot, a source familiar with the office tower told Commercial Observer. With almost 1.4 million square feet of rental space, that’s equal to around $210 million.
Capital Group did not disclose the value of the deal for its L.A. headquarters. Colliers is the listing agency for the property, but a spokesperson for the brokerage declined to comment.
Capital Group said it will eventually bring more than 2,100 associates together at the “vertical campus.”
“We take a long-term view not only in how we invest, but in how we design our operating model — investing in the right locations, the right capabilities, and the right teams to support our clients and pursue superior outcomes for them,” Mike Gitlin, president and CEO of Capital Group, said in a statement.
Brookfield had acquired the property as part of an expansive portfolio that made the company the largest office landlord in L.A. But that portfolio, and the Bank of America Plaza, suffered significant financial distress from the pandemic-driven remote-work phenomenon and from major tenants drifting toward L.A.’s Westside in “flight to quality” moves. Brookfield has been trying to unload buildings in the portfolio over the past six years.
Bloomberg reported the Bank of America Plaza was last appraised for $212.5 million, in a sharp drop from $605 million in 2016.
Brookfield wasn’t immediately available to comment.
Capital Group also announced plans to establish an East Coast operations hub in Charlotte, N.C., which is expected to accommodate 500 to 700 associates. The company also said Indianapolis and San Antonio will be “prime service centers of excellence,” and that it will wind down its Hampton Roads office in Virginia by the end of 2027.
Capital Group manages $3.4 trillion in assets with more than 9,000 associates and 33 offices around the world.
Gregory Cornfield can be reached at gcornfield@commercialobserver.com.
Update: The rentable square footage has been updated for the Bank of America Plaza.
