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OAKLAND, CALIF. — CB Richard Ellis Investors has purchased a 1.6 million-square-foot office portfolio located within Oakland City Center. Ninety-one percent leased at the time of sale, the five-building portfolio in the heart of Oakland’s central business district consists of 1111 Broadway, 555 12th Street, 1300 Clay Street, 505 14th Street and City Square. The purchase, which included City Center Garage, was made on behalf of the CBRE Strategic Partners U.S. Value 5 fund, a commingled private equity real estate fund raised from institutional investors in the United States, Europe and the Middle East.