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TA Associates Realty added a big chunk of office space to its Clayton portfolio with the $30 million purchase of three buildings totaling 184,000 square feet.
Sansone Group is the new manager of the three buildings at 150, 165 and 168 N. Meramec, known as the Old Town Executive complex. Sansone is taking over from Follman Properties * ONCOR International, which had managed the buildings for the previous owner, Los Angeles-based Tishman International Cos.
The purchase is the first for Boston-based TA Associates' recently formed seventh investment fund. The nationwide fund will eventually have in excess of $1 billion to invest in real estate, said Tim Sansone, principal at Sansone Group, which represented TA Associates in the deal.
With its location a block away from the center of the Clayton business district, the Class A Old Town Executive complex is in a "nice niche...