CONFIRMED: Keating Building Co. sold to Perini Corp.

Perini Corp., a Massachusetts-based builder whose clients include the U.S. military at bases from Guam to Iraq, has agreed to buy Philadelphia developer Daniel J. Keating 3d's Keating Building Corp, according to construction industry sources. UPDATE: Perini confirmed the sale "for $43 million in cash plus a portion of the operating results for 2009-11."

Keating Building (not to be confused with brother Pierce Keating's Daniel J. Keating Co.) is currently expanding the state-owned Pennsylvania Convention Center (in partnership with his brother's firm); rebuilding the 30th Street Post Office for Brandywine Property Trust and its tenant the IRS; and previously built the Hyatt Regency at Penn's Landing, the Phoenix on Love Park, and part of the Eagles' Lincoln Financial Field, among other big projects. Daniel Keating 3d is also an investor in the planned $550 million SugarHouse Casino in Fishtown.

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