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Waterbridge Capital has sold Union Bank Plaza, a 701,888-square-foot office tower in Los Angeles. The property traded for $80 million. The buyer, Southwest Carpenters Pension Trust, acquired the Class A asset through Washington Capital Management. The ownership intends to occupy a part of the building and lease the remaining space.

Newmark negotiated on behalf of the seller and also advised Washington Capital Management. The 40-story office building previously traded last year, when Waterbridge purchased it for $104 million from KBS, in a deal also facilitated by Newmark. At the time, the company received a large lease termination payout from Union Bank, after the tenant merged with U.S. Bank and relocated to U.S. Bank Tower.