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Broadway Sells L.A. Office Tower to Hines for $275M

Firm Picks Up 891,000-SF Citigroup Center for Nearly $309 PSF
By Laurie Forbes
September 18, 2008 | 9:54 P.M.

After nearly two years of ownership, Broadway Partners, the New York City-based private investment firm led by Scott Lawlor, sold Citigroup Center, a 48-story, 891,056-square-foot office tower in downtown Los Angeles. Hines' L.A. group acquired the central business district asset for $275 million, or approximately $308.50 per square foot, on behalf of one of its funds.

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