Jake from State Farm: $800M sale Richardson to Korean fundJake from State Farm: $800M sale Richardson to Korean fundhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=150772016-11-08T06:00:00Z2016-11-08T21:40:00Z

​​RICHARDSON - One of the largest real estate purchases ever recorded in North Texas occurred when State Farm Insurance's new office campus sold for more than $800 million.

Mirae Asset Global Investments—a South Korean investment fund—and Transwestern Investment Group based in Houston bought the more than 2 million-sf State Farm campus.

The State Farm buildings are the centerpiece of the $1.5 billion CityLine development near the southeast corner of US Hwy. 75 and Bush Turnpike.

Transwestern and Mirae bought the newly built Richardson towers from State Farm, which will continue to occupy the buildings on a long-term lease.

More than 8,000 of the Illinois-based insurance company's workers are housed in the high-rises, which are located next to a commuter rail line, restaurants, retail and apartments.
Dallas News
Dallas-Fort Worth-Arlington

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