|
|
Article: Town Center may be sold; Transwestern Investment Co. seeks Southfield office building.
- Article from:
- Crain's Detroit Business
- Article date:
- October 27, 2003
CopyrightCOPYRIGHT 2003 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: Jennette Smith
Negotiations are under way for a sale of the Southfield Town Center, according to a source close to the deal.
The Blackstone Group is negotiating with Transwestern Investment Co. in Chicago to purchase the 2 million-square-foot landmark office complex in Southfield. New York City-based Blackstone purchased the property in 1999.
The two parties are in the final stages of negotiations, although the property is not under contract, said the source, who added that a deal may be struck this week.
The Government of Singapore Investment Corp. sold the Town Center for about $260 million to Blackstone. This time around, ...