Sale Leaseback Legal!

Anthony Pignataro:

Great news for everyone who thinks that the Great State of California can help balance its budget by selling 11 office buildings for about $1.3 billion and then leasing them back over the next 20 years at a cost of $1.4 billion: today Superior Court Judge Charlotte Woolard ruled that the proposed sale-leaseback deal is legal and can go forward (click here to read my colleague Katy Grimes’ take on the deal).

We’re saved! And by “saved,” naturally, I mean “doomed.”

DEC. 10, 2010

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