Thomas Properties Group, Inc.'s TPG/CalSTRS, LLC Announces Sale Of Centerpointe I & II In Fairfax, Virginia

Thomas Properties Group, Inc. announced that its affiliate, TPG/CalSTRS, LLC, has completed the sale of the 421,859 square foot property known as Centerpointe I & II in Fairfax, Virginia to a joint venture between Carr Properties and an institutional investment partner. The gross sale price was $128.7 million and the purchaser was credited with cash proceeds of $3.0 million to fund certain post-closing capital improvements. TPGI received net proceeds from the sale after debt repayment and closing costs of approximately $5.3 million.