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They'd Like to Close

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Boy, oh, boy Gov. Jerry Brown is going to face a lot of lawsuits in the next year. According to the OC Register, that group of investors who got the winning bid to buy 11 state-owned office properties, including the Ronald Reagan building in downtown LA, are suing Brown. "California First LP, a group pulled together by Rich Mayo of Irvine-based Spyglass Realty Partners, had bid $2.3 billion to buy the state government buildings, then lease them back to the state for up to 50 years." In a press release, the group writes: "The State negotiated and signed a contract with California First and has no right to back out of the deal. California First met its obligations every step of the way and we intend to compel the State to live up to their end of the contract." [OC Register]