Los Angeles Union Station Sold

[leemell]

LA Union Station has been sold to a Huston investment firm, TPG Capital. The LA Times carried the article. I don't know if this good or bad, but it always worries me when this kind of transaction takes place. These kind of companies generally have no connection the the property other than making money. This one certainly is not local but of course neither were the prior two.

 

[Gingee]

So will it remain the train station?

 

[zephyr17]

So will it remain the train station?

Yes, Amtrak and Metrolink are both long term tenants. Don't look for the old ticketing wing or Harvey House to become a Metropolitan Lounge anytime soon, though.

 

[Gingee]

That's good.

 

[sportbiker]

I would rather Metro have bought it, just for local control.

 

[Montanan]

Hmm ... "Texas Pacific Group." Wonder if it's a corporate descendent of the old Texas & Pacific Railroad? That would at least be fitting.

And just a guess, but I'd say this doesn't necessarily preclude Metro's buying the building. It sounds like this was just a bulk transaction to get the seller out of the real-estate business.

 

[bretton88]

Well, it looks like LAMTA (Metro) and the California High Speed Rail Authority are going to buy LA Union station anyways. This can only be good news.

MTA to buy Union Station

 

[had8ley]

Well, it looks like LAMTA (Metro) and the California High Speed Rail Authority are going to buy LA Union station anyways. This can only be good news.

MTA to buy Union Station

This could lead to the much needed Metroploitan Lounge or something similar.(I have to give somebody credit for trying to make Coast Starlight pax special but it sure doesn't look like a first class effort.) I even prefer the unstaffed Miami set up to some of the staffed lounges.

 

[had8ley]

Hmm ... "Texas Pacific Group." Wonder if it's a corporate descendent of the old Texas & Pacific Railroad? That would at least be fitting.

And just a guess, but I'd say this doesn't necessarily preclude Metro's buying the building. It sounds like this was just a bulk transaction to get the seller out of the real-estate business.

In googling Texas Pacific Group it states that the Group was founded in 1992 and lists one of the execs as Dianne Feinstein's husband and two Billionaires. I must be doing something wrong :blink: