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Morgan Stanley fund pays $186M for Seattle office building

A Morgan Stanley unit bought the 301,000-square-foot 8th + Olive office building in Seattle from a joint venture between PGIM Real Estate and Talon Private Capital for $186 million, IPE Real Assets reported, citing public filings.

Morgan Stanley Real Estate acquired the asset for its $18.6 billion core open-ended fund, The Prime Property Fund, the report added, citing a document from the Ohio Bureau of Workers Compensation.

The building is approximately 85% occupied, the report said, citing sources familiar with the property.