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[0] Koger Equity Announces the Sale of Tulsa Office Park.


Business Editors

JACKSONVILLE Jacksonville.

1 City (1990 pop. 29,101), Pulaski co., central Ark., inc. 1941. The city has varied industries, including printing and publishing and the manufacture of electronic equipment, ordnance, and plastic and metal products.
, Fla.--(BUSINESS WIRE)--June 6, 2000

Koger Equity, Inc. (NYSE NYSE

See: New York Stock Exchange
:KE) announced the sale of its office park in Tulsa, Oklahoma Tulsa is the second-largest city in the state of Oklahoma and 45th-largest in the United States. With an estimated population of 382,872 in 2006,[1] it is the principal municipality of the Tulsa Metropolitan Statistical Area, a region of 897,752 residents projected to , on June 1, 2000, for $29.3 million to KWIRP-TULSA ASSOCIATES, L.P. The Tulsa Koger Center, begun by Koger in 1974, consists of 13 office buildings containing 581,100 feet.

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 J. Crocker, Chief Executive Officer of Koger, said, "While this property has been successful for the Company over the years, the Years, The

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 sale reflects our strategy to sell certain of our mature, developed office parks. The proceeds from the sale will initially be used to pay down short term debt."

Last year Koger completed construction of six office buildings consisting of 630,400 feet in five markets and purchased four additional buildings totaling 508,600 feet in two markets. This year, Koger has completed six office buildings totaling 579,200 feet in five markets and has two additional buildings under construction, which total 180,900 feet.

Koger Equity is a Jacksonville, Florida-based real estate investment trust that owns and operates properties in 14 southeastern and southwestern cities.
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Publication:Business Wire
Geographic Code:1USA
Date:Jun 6, 2000
Words:182
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