Brookfield Office Tower Sells for 42% Less Than 2005 Price

A unit of Brookfield Corp. sold an office tower in downtown Los Angeles for $210 million, 42% less than its purchase price in 2005.

While the deal was at a deep discount, the price-per-square foot — about $201 — topped other recent office sales downtown, according to Kevin Shannon, the Newmark Group Inc. broker who represented Brookfield. Those prices have been around $150 or less per square foot, he said.