December 7, 2009
The Business Journal is reporting that the sale of 550 Terry Francois to GLL is a done deal.
A Tishman fund, traded on the Australian Securities Exchange as Tishman Speyer Office Fund, sold the 283,000-square-foot building for $135.5 million. The sale, which closed Nov. 26, represented a 21 percent drop from the $173 million the fund paid for the property in 2005. As part of the sale, GLL assumed the existing $107.5 million debt facility, leaving Tishman with a net proceed of $23 million after closing costs.
[via Business Journal]
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