Monday, February 19, 2007

Los Angeles Skyscraper Included in $3 Billion Deal

In a blockbuster deal, Maguire Properties Inc. will pay about $3 billion to acquire 23 office buildings in Los Angeles and Orange counties from New York investment firm Blackstone Group — including the 52-story Two California Plaza in downtown L.A., according to people familiar with the purchase. The deal would be the second-largest office transaction in Southern California history, after the $3.2-billion acquisition of Arden Realty last year by General Electric Co.

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