Aegon Buys Citibank Properties for $139M

NEW YORK CITY-Subsidiaries of Netherlands-based firm Aegon have acquired 23 bank-branch properties from Citibank N.A. for $139.4 million. Eleven of the assets are single-tenant locations, while the other 12 are multi-tenant centers anchored by Citibank.

The portfolio, which totals 207,400 sf, are in locations throughout New York City, Long Island and Westchester County. The acquisition “is consistent with our current strategy to actively acquire real estate throughout the United States where we find core-plus and value-add opportunities,” says Greg Dryden, VP and senior acquisitions officer of Aegon Realty Advisors, the firm’s real estate entity.

Aegon Realty Advisors represented its own company in the transaction. Citi Realty Services and Citi Capital Markets and Banking advised its firm, and Newmark Knight Frank brokered the deal for Citibank.