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March 2012

Gordon & Rees Client Acquires BofA Tower

Eric Young and Rich Clampitt assisted a venture of San Diego-based BCL Inc. and Westbrook Partners of New York in the acquisition of the Bank of America building and underlying ground lease located at 450 B Street in San Diego for $60 million.  The transaction was financed with a $40.5 million loan from Wells Fargo Bank.  The building houses a two-story bank branch and the regional headquarters of Bank of America.  Gordon & Rees will handle ongoing leasing and related work for the manager of the building.

Eric C. Young