He adds, “Our intention is to fund the company's pending acquisition of the iconic 11 Madison property through a strategic combination of property sales, joint ventures, new financing and existing property debt refinancings while retaining substantial cash for other investments in the pipeline. These transactions are consistent with that plan.”

The 440,000-square-foot Tower 45 was acquired by SL Green in 2007 as part of the merger with Reckson Associates. Subsequently, the company executed a significant capital improvement program that successfully repositioned the property. Tower 45 is currently over 96% leased.

Over in Soho, 131-137 Spring St. is a six-story building with 100 feet of ground floor frontage on Spring Street. It houses multi-level flagship stores for Diesel and Burberry, while the balance of the building includes office space and residential rental units.

Isaac Zion, co-CIO of SL Green, asserts, “These transactions fit perfectly with the acquisition of 11 Madison, which is well-leased for the long term and located in one of New York City's strongest commercial office submarkets. As we indicated at our December investor conference, we expected to sell certain assets and create joint ventures for others during 2015 and deploy the proceeds into more accretive opportunities. Clearly, the pieces are coming together nicely.”

Also, he notes, “We are very pleased to be forming this new venture with Invesco in SoHo. Its New York team shares our vision for this prime asset. We look forward to working with the firm to create even greater value in this incredibly well-positioned property, taking full advantage of its deeply embedded growth potential as the area's positive momentum continues.”