FOR THE RECORD - Dec. 4, 2008
Office buildings: An article in Business on Tuesday about Texas developer Hines taking possession of 53 Southern California office buildings in a transaction valued at almost $1.4 billion incorrectly said the buildings had been purchased by a group of 32 investors in 2007 by Arden Realty Inc. of Los Angeles. It should have said they were purchased from Arden Realty by that group of investors. It was that group, represented by Cabi Developers of Miami, that was unable to keep up the loan payments, paving the way for Hines to take ownership.
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