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Real Estate/Development

Feb. 2, 2000

Insurer spears prime building

It took two tries, but 201 Spear St. Terrace in San Francisco finally sold to new owners. Hartford, Conn.-based Cornerstone Real Estate Advisors Inc., a subsidiary of Boston-based Massachusetts Mutual Life Insurance Co., bought the 18-story, 231,551-square-foot office tower in the city's booming South-of-Market district for $62 million.

It took two tries, but 201 Spear St. Terrace in San Francisco finally sold to new owners. Hartford, Conn.-based Cornerstone Real Estate Advisors Inc., a subsidiary of Boston-based Massachusetts Mutual Life Insurance Co., bought the 18-story, 231,551-square-foot office tower in the city's booming South-of-Market district for $62 million.
Lend Lease Real Estate Investments Inc. initially put the building on the block for owner Lend Lease Select Fund I in spring 1998.
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