SAN FRANCISCO-Morgan Stanley Real Estate has closed on its $2.43-billion acquisition of seven CBD office developments here from Equity Office Properties Trust, which was recently acquired by Blackstone Group. The portfolio comprises 2.94 million sf of built space, includes the 1.4-million-sf One Market complex, and a 336,000-sf office development project.

In addition to One Market, the portfolio sold to Morgan Stanley includes One Maritime Plaza (534,000 sf), 150 California St. (201,000 sf), 201 California St. (250,000 sf), 60 Spear St. (133,000 sf), 188 Embarcadero (aka Bayside Plaza, 88,000 sf) and the 75 Howard St. parking garage. The development project is Foundry Square I, a $145-million redevelopment that when complete will be the new headquarters of Barclays Global Investors.

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