SINGAPORE (July 17): OUE has finally sold its Los Angeles property, the US Bank Tower, a year-and-a-half after putting it up for sale.

OUE bought this property (picture, taken from OUE’s website) back in 2013 for US$367.5million ($459.4 million). It will be selling it to USBT Property Owner LP for US$430 million.

The sale is slated for completion around September and if so, OUE will result in a decreased of 35 cents in earnings per share from the sale for FY2020 ending December 31 2020.

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