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Tuesday, Feb. 18, 2003 | 9:42 a.m.
LOS ANGELES -- Commercial real estate brokerage CB Richard Ellis of Los Angeles said today it agreed to acquire Insignia Financial Group Inc. for $11 a common share in cash, as part of a deal valued at about $260 million, excluding debt.
Insignia, of New York, is a real-estate company that manages cooperative and condominium apartments. It also originates mortgages and brokers single-family homes.
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