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Oh the 49% sale thing?
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Yeah. I see it a lot here in SV. Many office parks in/near “Golden Triangle”, for instance. Shopping centers, too. It makes me think of the Big Developers (eg Sand Hill; Jay Paul, Irvine) even more fondly- At least they’re buying/selling and triggering reassessments...!
End of conversation
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Here’s a good explainer: https://files.alston.com/files/docs/Prop-13-article.pdf …
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