The Spring Street complex known for years as Title Insurance & Trust headquarters and more recently as the Los Angeles Design Center, has been sold to a partnership with offices in Santa Monica for an estimated $25 million.
Twin Springs & L.P., Delaware Ltd. Partnership was the buyer. Principals are Larry Bond, Al Ehringer and Kirk von Meeteren.
Ehringer said "no comment" when asked about a rumor that actor Arnold Schwarzenegger is also an investor.
Twin Springs bought the two-building complex at 433 S. Spring St. "because we think there will be a resurgence on Spring Street, " Ehringer said. "We know that's been said before, but we think it will happen now with the state office building being constructed across the street, the city's commitment to parking, and the neighborhood clean up efforts that are going on."
