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More of EOP's CBD Assets Going to Morgan Stanley

SAN FRANCISCO-The company confirms it is buying a total of 10 CBD office properties from Equity Office Properties and details who won the management and leasing work.

By Brian K. Miller | Updated on April 26, 2007

SAN FRANCISCO-Morgan Stanley Real Estate is not done acquiring CBD properties here from Equity Office Properties Trust, which was taken private last month by Blackstone Group. In addition to the $2.43-billion, 2.94-million-sf transaction consummated earlier this week , Morgan Stanley on Thursday confirmed for GlobeSt.com that it will acquire three additional properties totaling 534,000 sf and also detailed which firms have been handled the property management and leasing assignments.

When GlobeSt.com first reported on the transaction six weeks ago, 10 of EOP’s 11 CBD properties were said to be included in the deal. But in Wednesday’s announcement, Morgan Stanley did not mention three of the properties and did not respond to GlobeSt.com’s questions until Thursday.

Morgan Stanley now tells GlobeSt.com it omitted the three additional assets from its announcement not because they are not acquiring them but rather because it has yet to close on them. Those assets are One Post (421,000 sf), 201 Mission (489,000 sf) and 580 California St. (318,000 sf). Morgan Stanley says it will close on those assets in the near future. It did not provide a purchase price.

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