Los Angeles investor
completes buy
of Amfac tower

John Anderson finished the
estimated $95 million deal

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By Rick Daysog
rdaysog@starbulletin.com

Los Angeles investor John Anderson has completed his purchase of Amfac Center, in a deal estimated at about $95 million.

Anderson, owner of Paradise Beverages in Hawaii, acquired the twin-tower, 20-story office complex from MFD Partners LLC on Friday, according to Mike McMahon, senior vice president at with MFD's parent Mitsui Fudosan.

McMahon declined further comment.

Anderson, the namesake of the University of California Los Angeles' business school, could not be reached for immediate comment.

The estimated purchase price is nearly one-third less than the $141.5 million Mitsui Fudosan paid for the 470,000-square-foot building in 1988.

The octogenarian Anderson, whose net worth is listed by Forbes magazine at around $750 million, is the founder of Topa Equities Ltd., a diversified holding company which owns locally based Paradise Beverages along with a host of banking, real estate, insurance and beverage companies.

In 1995, UCLA named its business school after Anderson after he donated $15 million to the school.

Built in the 1970s, Amfac Center is located at the corner of Bishop Street and Ala Moana and its tenants include Charles Schwab Corp., GE Capital and Amfac/JMB Hawaii Inc.

The sale was handled by Eastdil Realty out of Los Angeles.