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Article: North Point sale likely imminent; Office tenant-hungry Boston REIT to purchase two-building complex in latest downtown deal.
- Article from:
- Crain's Cleveland Business
- Article date:
- January 14, 2008
CopyrightCOPYRIGHT 2008 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)
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Byline: STAN BULLARD
HRPT Properties Trust, a Boston-based real estate investment trust with a big appetite for office buildings, is preparing to buy the 1 million-square-foot North Point office complex in downtown Cleveland.
Sources familiar with the situation expect managers of the property soon to inform tenants in the two-building complex on the northeast corner of East Ninth Street and Lakeside Avenue about the transaction. However, the same sources say AXA Equitable Life Insurance Co., the U.S. unit of Paris-based AXA Group, which owns North Point, will not conclude the sale for at least a month.
HRPT Properties surfacing as a buyer ...