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REIT Sells Two Dallas Office Buildings to Asian Group.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, March, 2000 by Brown, Steve
Mar. 23--Crescent Real Estate Equities Co. has sold two of its Dallas office buildings to an Asian investment group as part of its plan to raise money, pay off debts and fund new investments.
Crescent sold the 12-story Amberton tower on North Central Expressway and the nine-building Concourse Office Park on LBJ Freeway in North Dallas to Transwestern Investment Co.'s Asian Realty Partners investment fund.
The $426 million fund was set up last year to buy U.S. commercial properties.
The Amberton and Concourse office projects contain about 500,000 square feet of office space and are substantially leased. Terms of the sale were not disclosed.
Both buildings were among about $455 million in office properties that Crescent has put up for...
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