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FEBRUARY 21, 2014

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In-Depth: Heitman buys Northern California office complex

by Andrea Waitrovich

Heitman has purchased Parkside Towers in Foster City, Calif. Here’s an in-depth look at the deal.

THE DEAL

Heitman paid approximately $250 million to Harvest Properties and Invesco Real Estate for a 400,000-square-foot office complex, according to Real Capital Analytics. The deal closed Feb. 14. Eastdil Secured served as the sellers’ broker.

The transaction represents Heitman’s first foray into San Mateo County, which is located on the San Francisco Peninsula. Harvest Properties currently manages the buildings and will continue to do so for t

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