Los Angeles-based investment management firm Capital Group has finalized the acquisition of the Bunker Hill skyscraper it had long occupied as a tenant, purchasing the 55-story tower for $210 million. The building, located at 333 S. Hope St., has been home to Capital Group since 1978 and is a notable fixture in downtown Los Angeles’ office landscape.

Completed in 1974, Bank of America Plaza stands as one of the most prominent office addresses in the city. Capital Group was the anchor tenant prior to the sale and will now assume the role of landlord, taking direct ownership of the property. The transaction reflects a growing trend among large office tenants opting to purchase their leased spaces amid a broader decline in commercial real estate values.

“This acquisition follows a strategic decision to become our own landlord,” said Capital Group Chief Executive Mike Gitlin when the purchase was announced earlier this year. The decision aligns with similar moves by institutional tenants seeking greater control over their office environments in response to shifting workplace dynamics spurred by the COVID-19 pandemic and increased remote work arrangements.

The seller, Brookfield Properties, previously held ownership but had defaulted on a $400 million loan secured by the building. Facing potential foreclosure, Brookfield placed the property on the market. The sale was conducted under the supervision of a court-appointed receiver, with real estate firm Colliers representing the seller.

According to Colliers, the $210 million sale represents the largest office transaction in Los Angeles during 2026 and the most significant office sale in Los Angeles County since 2023. The deal underscores ongoing volatility in the commercial property market, particularly for downtown office buildings, as tenants and owners adjust to evolving market conditions and tenant preferences.