(To read more on the debt and equity markets, click here.)
HOUSTON-Lionstone Group and CalSTRS have set a $100-millionequity fund into motion with the acquisition of a class A officebuilding in Omaha. As the portfolio builds, CalSTRS can boost itscontribution to $500 million with Lionstone kicking in 1% of thetotal tapped equity.
The JV is using a 50% leverage formula, setting up an initial$200 million of buying power for Lionstone Cash Flow Office Two.The fund, which could be inflated to $1 billion, targetshigh-occupancy office buildings of any age in all US markets.
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