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.

  • 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.