Real Estate/Development
Mar. 15, 2011
State Sued to Force Mega Sale
The private investment consortium California First is suing the state in an attempt to complete its purchase of 24 state-owned office buildings for $2.3 billion. Gov. Jerry Brown killed the deal, which was arranged by his predecessor.
Daily Journal Staff Writer
California could end up with a more than $1 billion windfall for the coming fiscal year - but at a greater cost to taxpayers in the long run, say opponents of a lawsuit filed in Los Angeles County Superior Court.
The private investment consortium California First is suing the state in an attempt to force it to complete the sale of 24 state-owned office buildings for $2.3 billion.
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