Real Estate/Development
Oct. 13, 2010
State Selling Buildings for $2.33B
State officials Monday approved real estate partnership California First, LLC, as buyer for 11 state office properties in a $2.33 billion deal.
Daily Journal Staff Writer
State officials Monday approved the sale of 11 state office properties in a $2.33 billion deal.
The transaction will infuse $1.2 billion into the state's coffers, and will net $1.09 billion to pay off bonds on the buildings. Over the next 20 years, the state will lease the offices back from the new owner, California First LLC, a partnership led by Texas-based real estate firm...
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