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Keyword: saleleaseback

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  • California Supreme Court balks at helping Schwarzenegger's building sale bid

    12/29/2010 12:51:34 PM PST · by SmithL · 4 replies · 1+ views
    Sacramento Bee ^ | 12/29/10 | David Siders
    The California Supreme Court on Tuesday rejected Gov. Arnold Schwarzenegger's request to lift a stay blocking the sale of state office properties until after he leaves office next week, likely sinking the deal. Gov.-elect Jerry Brown has been critical of the transaction and, as the state attorney general, declined to defend it. Schwarzenegger and the Legislature last year approved selling 24 buildings on 11 properties to private investors for immediate cash, while promising to lease back the properties for 20 years.