TMW is Prudential Real Estate Investors' property funds management business. Terms of the recently closed transaction were not disclosed. A PREI spokesperson tells GlobeSt.com there are no immediate plans for the property. Law firm King & Spaulding LLP represented TMW. Other Manhattan properties TMW has interests in include a large portion of the Chrysler Building and the Rhinelander Mansion.

In the past few months, TMW has sold an Atlanta asset and picked up a number of properties in Washington, DC. Fort Worth-based Crescent Real Estate Equities acquired Live Oak in Metro Atlanta. TMW took bought a 48% stake in the 306,000-sf Georgetown Renaissance portfolio, a collection of 17 buildings owned by EastBanc Inc. featuring office, retail, residential and storage space. The company also took two administrative buildings at Georgetown University, accounting for a total of 240,500 sf, for about $75 million. Last July, TMW picked up the 171,000-sf office at 1150 18th St. for $62.7 million.

In October 2002, PREI acquired TMW Immobilien AG of Munich, Germany and TMW Real Estate Group of Atlanta. PREI executives said the move strengthened its position as a global asset manager as well as complemented and expanded long-standing activities in Europe. PREI is the real estate investment management and advisory business of Prudential Financial Inc.