NEW YORK CITY-Private equity and real estate management firm Savanna has acquired 80 Broad St., after buying the senior debt on the building earlier this year. It also secured a $65.3 million loan, to be used to finance the acquisition and for a $23 million capital improvement program.

Shep Wainwright, a managing director at Savanna, tells GlobeSt.com that, for now, the building is off the leasing market while the improvements are implemented. “Savanna has decided to take the building off the market while it completes the already commenced capital improvement program,” he says, “to make a strong statement that we’re dedicated to this asset and to providing reliable and comprehensive services to our customers.”

The building, he adds, will be reintroduced in the first quarter of 2012 “with asking rents in line with the market for similar quality buildings in downtown Manhattan.”