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BUSINESS
December 19, 1987 | JAMES BATES, Times Staff Writer
Blue Cross of California, the financially ailing health insurance organization, said Friday that it sold its headquarters in Woodland Hills for $90 million to an affiliate of JMB Realty, a giant Chicago real estate investment firm. Blue Cross said it will lease back the 14-story building in the Warner Center area from JMB under a 15-year agreement and will continue to own about 25 acres of prime development land near the building.
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BUSINESS
May 28, 1987
The Canadian firm has signed a letter of intent to sell most of the U.S. holdings to a group including Michael Prentiss, a senior company official, for about $450 million. JMB Realty Corp. of Chicago, which earlier this month agreed to buy all of Cadillac, agreed to the transaction, and now will buy what remains of Cadillac after the Prentiss sale, the Wall Street Journal reported.
BUSINESS
December 19, 1987 | JAMES BATES, Times Staff Writer
Blue Cross of California, the financially ailing health insurance organization, said Friday that it sold its headquarters in Woodland Hills for $90 million to an affiliate of JMB Realty, a giant Chicago real estate investment firm. Blue Cross said it will lease back the 14-story building in the Warner Center area from JMB under a 15-year agreement and will continue to own about 25 acres of prime development land near the building.
BUSINESS
April 27, 1989 | MICHAEL FLAGG, Times Staff Writer
Eleven of the 25 biggest real estate deals in Southern California last year occurred in Orange County, according to a San Diego market-research firm. The number of local deals, led by the $83-million sale of two Newport Center office buildings, exceeded by three the eight sales in Los Angeles County, COMPS Inc. reported. But the Los Angeles deals involved more money. The Orange County sales added up to $511 million, or 36% of the $1.4-billion total, COMPS said. The eight Los Angeles deals totaled $656 million, or 46%. The Orange County transactions included four office and retail projects, four land parcels and three apartment complexes.
BUSINESS
May 28, 1987
The Canadian firm has signed a letter of intent to sell most of the U.S. holdings to a group including Michael Prentiss, a senior company official, for about $450 million. JMB Realty Corp. of Chicago, which earlier this month agreed to buy all of Cadillac, agreed to the transaction, and now will buy what remains of Cadillac after the Prentiss sale, the Wall Street Journal reported.
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