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Before 2002, 3040 Post Oak Boulevard was owned by Nippon Life. In 2002 Koger Equity, Inc. acquired the entire Lakes on Post Oak project for $102 million ($85 per square foot) from Cottonwood and Nippon Life, reunifying the complex. Thomas Crocker, the Chief Executive Officer of Koger Equity, said Its 'suburban in-fill' characteristics combined with the fact that the properties were purchased at a significant discount to replacement cost integrates perfectly with our long-term investment strategy." As of 2002 the Lakes on Post Oak complex was 75% occupied. In 2003 Koger announced that Trammell Crow would manage and lease units in the complex.