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.
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.