(Read more on the industrial market.)

LAGUNA NIGUEL, CA-A joint venture of the locally based MullerCo. and GE Real Estate that acquired a three-million-sf portfolioof office, industrial and retail properties in Southern Californiaand Arizona from Thousand Oaks-based Silagi Development &Management paid a price north of $460 million. The deal,reported earlier on GlobeSt.com but without a price, included a$120-million investment by GE.

The GE-Muller JV won the deal in bidding with about 20 otherprospective buyers, according to vice chairman Kevin Shannon of CBRichard Ellis, who tells GlobeSt.com that the properties wereoffered both as a single portfolio and as three separate office,industrial and retail deals. Shannon was part of a CBRE teamrepresenting Silagi that included vice chairman Darla Longo,executive vice president Barbara Emmons and senior vice presidentKen White.

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