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LOS ANGELES — Coretrust Capital Partners has purchased Citigroup Center, a 914,000-square-foot office tower in downtown Los Angeles, for an undisclosed sum. The 48-story tower is located at 444 S. Flower St. in the Central Business District.
Notable tenants at Citigroup Center include Citigroup, Morgan Stanley, Wells Fargo and Arco. The building also includes Equinox, Starbucks, Mendocino Farms and a Citibank branch.
Rockefeller Group developed the project in 1981. AC Martin Partners was the designer. Coretrust plans to upgrade the building’s common areas and outdoor space.
The property was purchased through Coretrust Value Fund I. The seller was a partnership advised and led by Hines.