SACRAMENTO-A consortium comprising Hines, Spyglass Partners and Antartica Capital is a step closer to acquiring 24 California state-owned office towers, located mostly in downtown Sacramento.
The consortium offered $2.2 billion for the properties from the Franchise Tax Board headquarters on Folsom Boulevard to the East End Complex on Capitol Mall. According to the agreement, the state will sell the towers for cash and then lease back the space. The state will earn a profit of $660 million through the deal. For the full story, go to Sacramento Business Journal.
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