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It was announced in late 1997 that TrizecHahn Corporation, a $6 billion real estate company based in Toronto, had agreed to acquire JBG Companies' real estate office building portfolio, which includes JBG's and its partners' interest in the 1000 Wilson Boulevard, building that has housed APA offices since the early 1980's.
In 1982 APA entered into an advantageous arrangement with JBG's partnership in which APA bought the land, JBG's partnership built a 12-story building on the land, APA paid JBG's partnership rent for its office space, and JBG's partnership paid rent to APA for the land. This agreement is due to expire in 2027, when ownership of the building is to be transferred to APA without additional cost.
Closing on the multimillion dollar TrizecHahn acquisition occurred recently. APA Medical Director Steven M. Mirin, M.D., told Psychiatric News that APA will keep the membership informed of developments as it enters into a relationship with the new owner.