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Conexant to Sell Newport Beach Property for $23M

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NEWPORT BEACH, Calif., Dec. 15, 2010 — Conexant Systems Inc. has signed an agreement with Uptown Newport LP to sell property adjacent to its Newport Beach headquarters for $23.5 million, it said yesterday. Under the agreement, the company will retain an equity investment in the land of up to $2.2 million in limited partnership interest. Located on Jamboree Road, the 25-acre property includes two leased buildings. Subject to customary closing conditions, the transaction’s completion is anticipated for the end of December. “The divestiture of our property in Newport Beach will strengthen our balance...Read full article

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    Published: December 2010
    AmericasaudioBusinessCaliforniaConexantConexant Systems Inc.DRA Advisors LLCembedded modemequity investmentImaginginvestment advisorlimited partnership interestNew YorkNewport Beachproperty agreementproperty purchasereal estate investment firmScott MercersemiconductorsShopoff Group LPsurveillancetransactionUptown Newport LPvideo surveillance

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