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In one of the largest deals in recent memory, Maguire Properties Inc. has closed on its $1.5-billion purchase of the 14-property, five-million-sf Fifth Street Properties Portfolio from Commonwealth Partners LLC, Rockefeller Group International Inc. and CaIPERS. The properties are located throughout the Western United States, including Southern California, Arizona, Texas and Colorado. The portfolio is 86.4% leased. The purchase also allows for the development of an additional 1.5 million sf of entitled office space in Southern California.
Maguire funded...