CBRE Global Investors Sells Marathon Oil Tower at Substantial Discount
CBRE Global Investors (NYSE: CBG) took a $70 million hit after the Los Angeles-based investment manager last week sold the Marathon Oil Tower in Houston to Boston-based Baupost Group and local firm M-M Properties for $175 million, or approximately $146 per square foot, according to local reports.
CBG paid nearly $245.5 million back in late 2013 for the nearly 1.2 million-square-foot, 41-story office tower that serves as Marathon Oil Corp.’s global…
