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Dutch investor invests $100M in The Spiral in NYC

Dutch institutional real estate investor Bouwinvest invested $100 million in Tishman Speyer Properties LP's $3.7 billion The Spiral project in Hudson Yards in Manhattan, N.Y., confirming an earlier report.

The company made the investment pursuant to its plan to increase its assets under management in North America by one-third, or to €1.5 billion, by 2020.

Construction on the 314-meter-tall building is scheduled to start in June and wrap up in 2022. The 65-story tower will offer 260,000 square meters of space from West 34th to West 35th streets and from 10th Avenue to the Hudson Park and Boulevard.

According to the earlier report, China's HNA Group Co. Ltd. was also one of the 11 limited partners investing in the development.