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Deal nears for Legg Mason tower

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Deal nears for Legg Mason tower

H&S Properties Development Corp. is close to selling a stake in the Legg Mason building in Harbor East.

The firm, which put the 24-story blue glass tower on the market last year, saying it was looking for a joint venture partner, confirmed Thursday that it is drawing closer to a deal. CBRE, the brokerage that was marketing the property, lists it as “under contract” on its website.

A spokeswoman for H&S declined to name the partner and deal terms and said a closing date has not been established.

She said the firm will retain “an active and significant” ownership and management interest in the building, constructed in 2009. A deal is intended to provide H&S with new capital for Harbor East, where the developer and partners recently broke ground on a new building.