The Metropolitan Transportation Authority, in partnership with the California High Speed Rail Authority, is in talks to purchase historic Union Station.
A deal could close next month, a Metro official said Friday. The deal could include either a co-purchase with the rail group of the 38-acre property, or another type of partnership that has not yet been determined, Moliere said. One possibility, he said, would be the formation of a Joints Power Authority, with Metro operating the station.
Current Union Station owner ProLogis is in the midst of selling all of its assets to Texas-based investment firm TPG Capital. Moliere said once that transaction, which is in the final stage, is complete, TPG Capital will then turn around and sell the station to Metro. TPG would sell the facility because it is not a core part of their business.
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