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Griffin Capital Essential Asset REIT JV sells Texas property

Griffin Capital Essential Asset REIT Inc. said in its second-quarter earnings report that the Heritage Trace Parkway property in Fort Worth, Texas, sold for approximately $64 million in July.

The transaction was conducted through the Heritage Common X Ltd. joint venture, in which it had an ownership stake of approximately 45% as of June 30. The company said it recognized a gain of about $3.7 million from the sale.

The company merged with and into Griffin Capital Essential Asset REIT II Inc. earlier in 2019.