CalSTRS Acquires Ownership Stake in LCOR

In a deal valued at close to $ 820 million, the California State Teachers’ Retirement System (CalSTRS) has acquired a 90% interest in LCOR, a real estate investment, management and development company, in combination with an extensive real estate portfolio, from LCOR’s pre
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Piedmont Finalizes $387M Sale of Majority Stake in Leo Burnett Bldg.

Piedmont Office Realty Trust (NYSE:PDM), an Atlanta-based REIT, completed the sale of its 96.5 percent stake in Chicago’s 35 W. Wacker Drive to UBS Global Asset Management for approximately $ 387 million or $ 359 per square foot. The price equates to a value of nearly $ 401 million fo
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GE Asset Mgmt. Sells Stake in 2 VA Offices for $105M

GE Asset Management sold its 75 percent interest in Metro Place III and IV, a 325,328-square-foot office portfolio in Merrifield, VA, for an implied value of $ 105 million or $ 323 per square foot. First Potomac Realty Trust (NYSE: FPO) purchased a 51 percent interest in the property
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Farkas, Colony Capital In Talks To Acquire ‘Significant’ Stake In Grubb & Ellis

Just a few months after announcing plans to acquire NAI Global, a firm controlled by real estate investor Andrew L. Farkas is in exclusive talks to execute “a strategic transaction” with troubled commercial real estate services firm Grubb & Ellis Co. (NYSE: GBE). A subsidia
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