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Monday's announcement that private-equity giant Blackstone Group will pay $20 billion to take over Equity Office Properties (EOP) gave a boost to all office REITs.
But the news might be the best of all for SL Green(SLG).
SL Green, a pure-play owner of New York City office space, has found itself in a bit of a pickle. Over the summer the company agreed to purchase most of the New York office assets of Reckson Associates(RA) to expand its foothold in Manhattan, which is enjoying tremendous rent growth. ...
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