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NEW YORK CITY-Princeton International Properties has acquired 104 West 40th Street from Savanna for an undisclosed price. However, according to reports, the deal was valued at just above $100 million. The sale is another sizeable return of capital to investors of Savanna since the establishment of Savanna Real Estate Fund I, L.P. in 2006. The 20-floor Class A office tower spanning 210,000 square feet is situated nearby Bryant Park in Midtown Manhattan.
Savanna bought the property in 2010 and spent $5 million on capital improvement. For the full story, go to Commercial Property Executive .
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