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PREI Takes 1180 Ave. of the Americas

NEW YORK CITY-TMW Property Funds USA, the Atlanta-based property funds management business of Prudential Real Estate Investors acquires 1180 Ave. of the Americas. According to city records, the site sold for $153.9 million.

By Barbara Jarvie | Updated on February 15, 2005

NEW YORK CITY-On behalf of its investors, Atlanta-based TMW Property Funds USA continued its buying spree by acquiring the 327,043-sf 1180 Ave. of the Americas in Midtown for $153.9 million. The 23-story tower is 94% leased. Its tenant roster includes Scripps Broadcasting, Horizon Blue Cross & Blue Shield of New Jersey and Rockefeller Group Business Centers.

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.

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