Will Metro, high speed rail group buy Union Station?

Just a week or so ago came word that current owner ProLogis was in the midst of selling its assets to the Texas-based investment firm TPG Capital. But TPG isn't interested keeping the historic facility, and has been in talks with the Metropolitan Transportation Authority and the California High Speed Rail Authority. Downtown News reports that a deal could close next month.

[Roger Moliere, chief of real property management and development for Metro] said the purchase of Union Station would allow the transit authority to better deal with increased bus and rail traffic through Los Angeles. "There's a lot of need to restructure stuff and make it run better," he said. A partnership with the High Speed Rail Authority may also facilitate the construction of the planned $40 billion high-speed train that would link Southern California to San Francisco, since Union Station is a key component of that plan.