Spokespeople for Boston Properties Inc. and Brookfield Properties Corp. have confirmed that they did enter the bids on the same side of the table. Blackstone Real Estate Advisors, CIBC Capital Partners and Deutsche Bank joined them in consortium. The group now finds themselves going head-to-head in the race against the likes of Silverstein and Vornado Realty Trust.
Noting that the teaming provides World Trade Center ownership with "certainty of ownership," Brookfield US commercial operations chairman John Zuccotti, said that the team's strength "is its ability to commit a large sum on a highly accelerated basis."
The sale encompasses a package that includes the Twin Towers, Four and Five World Trade Center and the underground shopping mall. The owner of the complex, the Port Authority of New York and New Jersey, requested proposals this past spring to lease, manage and operate the property for 99 years. The asking price hovers around $3 billion.
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
