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The Wayne, PA-based firm sold 800 Walnut St., a 12-story 153,242-square-foot medical office building for $99.25 million to the University of Pennsylvania Health System. Liberty Property Trust developed the medical office tower in 2013 for $48.5 million.
More investment activity is starting from New York and Florida, however, that gap will close as California investors get added clarity about opportunity zone funds, leading to increased involvement.