"I can't reveal the price. Grosvenor is a private company," DougCallantine, former president of the local firm, tells GlobeSt.com.He is now president of the company, which has been renamedGrosvenor Investment Management US.

As of today, Legg Mason Real Estate Services' ties toBaltimore-based Legg Mason Inc. are severed, and it becomes,"another hub" in Grosvenor's North American network with a goal ofexpanding its fund management presence in the US. The NorthAmerican network operates offices in San Francisco, Washington, DCand Vancouver, British Columbia. Its current North Americanportfolio consists of more than six million sf of office, retail,industrial and residential properties.

The Legg Mason Real Estate Services buy contributes assets ofmore than $2 billion. With the change in ownership, Callantinetells GlobeSt.com, "there will be new investment managementproducts." Among them are "a residential land acquisition ofproperties all over the US and the launch, later this year, of afund to acquire core office buildings in urban areas across theUS."