East West sells San Francisco office building for $120 million

East West Bancorp in Pasadena, Calif., has sold a property in San Francisco for $120.6 million.

The $35 billion-asset company disclosed in a regulatory filing Thursday that it will lease space on three floors of the property from the buyer, GC 555 Montgomery.

Dominic Ng, chairman and CEO of East West Bancorp.
Dominic Ng is an American banker who is Chairman and CEO of East West Bank in California. (Photo by Ringo Chiu) Usage Notes: This content is intended for editorial use only. For other uses, additional clearances may be required.

East West will also rent space for its branch.

The company said it expects to record a pretax gain of $71.7 million. Some gains will be deferred because East West is leasing part of the building.

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