"...there are rumours that Macquarie Office Fund may be close to selling its 80 per cent interest in two US office towers for $US545 million"
Below are the buildings that MOF got 80% interest in
1/One California Plaza, Los Angeles( US$260mil in 01/06) 2/Quintana, Irvine (US$120.8 million -Jan 06) 3/Cerritos Corporate Center, Cerritos (US$80.8 mil Jan 06) 4/Stadium Gateway, Anaheim (US$55.1 mil May 05/Jan06) 5/San Diego Tech Center, Sorrento Mesa (US$146.4 mil Jan06) 6/Wells Fargo Center, Denver (US$284.0 mil Jan 06) 7/One & Three Christina Center, Wilmington(US$90.2 mil Dec 03)
Looking at the purchase prices, building 1 & 6 are the most likely as their combine cost is 260+284= 544 for a break even? as profit is unlikely.
One Cali Plaza has been on the market for sale http://online.wsj.com/article/SB124157224020290105.html
any thoughts??
MOF Price at posting:
19.0¢ Sentiment: LT Buy Disclosure: Held
