Nightingale Group and Wafra Capital Partners agreed to purchase the leasehold interest of the 24-story, 1.1 million-square-foot property at 111 Wall St. in New York City from Zurich Insurance Group AG, Commercial Observer reported, citing multiple sources familiar with the transaction.
Total acquisition and redevelopment costs for the Citigroup-leased property are $570 million, the sources said. The buyers are looking to secure about $445 million of five-year, interest-only financing, they added.
The news outlet could not get a comment from Wafra or Nightingale Group.
