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Pacific Life To Close Advisory Unit

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NU Online News Service, Jan. 9, 2:48 p.m. – Pacific Life Insurance Company, Newport Beach, Calif., says it will be closing PMRealty Advisors Inc., a 9-year-old unit that helps pension funds manage $1.5 billion in real estate investments. The move will eliminate 43 full-time jobs.

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Pacific Life has been trying to sell the unit for 12 months but it has been unable to find a suitable buyer.