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A California-based real estate investment firm has purchased a 9-acre property in downtown Phoenix, which includes the historic Grace Court School, for $24.2 million, according to public land records. Broadreach Capital Partners of Palo Alto declined to confirm what it paid NGP Grace Court Phoenix I LLC for the property, but it is likely more than $24.2 million because the site includes two new office buildings already under construction.  More…

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