Transactions reported this week included the sale of an office in St. Paul, Minn.
Talon Real Estate Holding Corp. through its operating partnership, Talon OP, sold Talon First Trust, the ownership entity of the property located at 180 East 5th Street, St. Paul.
The entity was sold for $98 million including stock and debt, to First Capital Real Estate Trust.
The structured sale helped Talon maximize the value of the asset and will allow FC REIT to reposition the property, which may include adding a hotel, condos or apartments, while finalizing financing for the property.
FC REIT has renamed the entity FC First Trust.
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