COSTA MESA, CA-Pacific Arts Plaza, a luxurious office tower, which has been in receivership since the beginning of 2010, is all set to be sold soon. According to real estate observers, American Assets Inc. is one of the potential buyers of the asset.
American Assets plans to raise finance through a $500 million IPO to carry out acquisitions in the Orange County and other regions. Jones Lang LaSalle Inc. is the receiver of the asset. For the full story, go to Orange County Business Journal.
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