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Glo Goes

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Commercial business publication Globe St is reporting that downtown rental building Glo at 1050 Wilshire Blvd--famous for its hamster tunnel--has changed hands for $47.5 million. "Berkshire Property acquired Glo from a joint venture of Vancouver, WA-based Holland Partners and other equity participants. Kevin Mignogna, a Berkshire vice president, says that the Boston-based firm was attracted by the opportunity to acquire a core asset with favorable bond financing at a price well below replacement cost." According to Globe St, Holland "remains in the deal with Berkshire as its new partner. Holland will also manage the property." [Globe St]