Search
 

MacFarlane Formally Acquires Time Warner Center Stake

NEW YORK CITY-MacFarlane completes its previously announced acquisition of a minority interest in the Time Warner Center at Columbus Circle.

By Barbara Jarvie | Updated on March 24, 2005

For more retail coverage, click GlobeSt.com/RETAIL.

NEW YORK CITY-San Francisco-based MacFarlane Partners has formally acquired a minority 49.5% equity interest in the retail and parking-garage components of Time Warner Center here. The investment is a co-ownership with developers, the Related Cos. and Apollo Real Estate Advisors, which continue to manage the property. The value was previously estimated to be between $425 million and $500 million.

MacFarlane committed to purchase the equity stake in January 2003 and provided a $359-million loan to the developers that partially financed the construction of the retail and garage components. That loan was repaid concurrently with MacFarlane Partners’ equity purchase.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.