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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.
The buyer of a 550-unit portfolio was new to El Paso and Greysteel was able to bring competitive offers from these new to the market investors attracted to the diversified economy and strong yield potential.