CALIFORNIA WATCH: STATE OFFICIALS ACCEPT 2.33 BILLION DOLLAR BID FOR OFFICE BUILDINGS...

State officials accepted the winning 2.33 billion dollar bid for 24 state office buildings, including two in Downtown Los Angeles, from three U.S. investment companies. According to the L.A. Times, the new owners are Hines and Antarctica Capital Real Estate, a partnership of Antarctica Capital and Spyglass Realty Partners Inc. As a part of the deal, the state will lease back the buildings for at least 20 years. The sale will reportedly generate $1.2 billion for the state general fund and $1.09 billion to pay off bonds on the buildings. We feel this a sad testimony to the state's financial disarray. Hopefully, these investments companies will also create new jobs for the state, specifically Downtown L.A. where we know the would make a big difference for the city in which we live. All we do know is that things have GOT to get better around here.  Go to the Source for details.