trending Market Intelligence /marketintelligence/en/news-insights/trending/n3jmG9UM_qJyWpNbr6HNoA2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Report: BentallGreenOak acquires NYC office tower for $450M

Street Talk Episode 56 - Latest bank MOE shows even the strong need scale to thrive

South State CenterState MOE Shows Even The Strong Need Scale To Thrive

Talking Bank Stocks, Playing The M&A Trade With Longtime Investor

Report: Kashkari Says Fed In Holding Pattern But Rate Cut Still Possible

Report: BentallGreenOak acquires NYC office tower for $450M

BentallGreenOak (U.S.) LP acquired the 31-story office building at 685 Third Ave. in Manhattan, N.Y., from Unizo Holdings Co. Ltd. for around $450 million, Commercial Observer reported, citing sources familiar with the transaction.

Heitman LLC provided a $200 million floating-rate leasehold financing in the deal, according to the sources. The debt is approximately 65% loan-to-cost for the leasehold component.

In connection with the transaction, Safehold Inc. created a $180 million ground lease on the building, the report added.

CBRE marketed the asset and negotiated the debt. Unizo Holdings had purchased the 639,000-square-foot property in 2017 from Nuveen Global Cities REIT Inc., or Nuveen Real Estate, for $467.5 million in cash.

Officials at Heitman and BentallGreenOak did not immediately respond to a request for comment, while CBRE officials declined to comment, according to the report.