SG-listed OUE to sell Los Angeles asset at discount as COVID hits tenants

SG-listed OUE to sell Los Angeles asset at discount as COVID hits tenants

Singapore. Photo by Mike Enerio on Unsplash

Singapore-listed property group OUE has entered a deal to sell U.S. Bank Tower, an iconic Los Angeles property, for $430 million, well below the $650-million valuation of the asset at the end of 2019, the company said in a filing to SGX Friday.

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