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Who Owns Downtown?

By Eric Richardson
Published: Wednesday, May 24, 2006, at 02:03PM

I was just reading an LA Times article from 1986 about Downtown property ownership. At that time the paper claimed 70% of Downtown properties (depending on how you defined "Downtown") to be foreign-owned.

Who owns downtown Los Angeles?

The Japanese, the British, the Canadians, the Chinese, the Germans, the Dutch . . .

If you "flagged" or identified all those familiar buildings in the central business district and heart of this metropolis, about two-thirds of the towers and office buildings would sport a foreign flag, indicating they are either owned or controlled by foreign investors.

In 1979, less than 25% were foreign-owned. Since then, the share of home-grown ownership downtown has diminished significantly.

Heavy investors from Asian and European nations, recognizing the Los Angeles area as the catalyst in the burgeoning development and progress of Pacific Rim nations, have placed their bets-their investments in the future-here, a place they firmly believe has a diverse and highly stable economy.

Obviously a lot changed in the Downtown office market in the late 1980s and early 1990s, and many buildings have changed hands since then. I'd be curious to know what the percentages might look like today.

Lazy cite from Proquest:

THE FOREIGN DOMINANCE; [Home Edition]


DICK TURPIN. Los Angeles Times (pre-1997 Fulltext). Los Angeles, Calif.: Apr 6, 1986. pg. 2

Link (viewable with a library card number)

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