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December 5, 2000 | Brad Berton
A real estate investment fund advised by J.P. Morgan Investment Management has closed its purchase of the Los Angeles area's first speculative high-rise office tower built in nearly a decade: the 24-story Glendale Plaza in downtown Glendale. Co-developers PacTen Partners and Morgan Stanley Real Estate Funds are thought to have sold the property to the J.P. Morgan fund for nearly $130 million. The project's estimated development cost exceeded $100 million.
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BUSINESS
December 5, 2000 | Brad Berton
A real estate investment fund advised by J.P. Morgan Investment Management has closed its purchase of the Los Angeles area's first speculative high-rise office tower built in nearly a decade: the 24-story Glendale Plaza in downtown Glendale. Co-developers PacTen Partners and Morgan Stanley Real Estate Funds are thought to have sold the property to the J.P. Morgan fund for nearly $130 million. The project's estimated development cost exceeded $100 million.
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