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GPIT Acquires NY Building For $114M

Government Properties Income Trust has purchased a building in New York City for about $114 million.

    Government Properties Income Trust(GPIT)has purchased a building in New York City for about $114 million.Extell Developmenthas sold the property, addsCrain’s New York Business.

    The building is 100% leased to theUnited Nations. The acquisition was funded through cash on hand and through the real estate investment trust’s existing credit facility.

    Click here for the release fromBusiness Wire.

    Click here for the additional coverage fromCrain’s New York Business.

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