NEW YORK CITY—Columbia Property Trust (CXP) has added two Midtown South properties, including the New York City offices of Twitter, to its holdings here. The REIT said Wednesday afternoon that it had acquired 245-249 W. 17th St. and 218 W. 18th St. from New York REIT (NYRT) for $514 million.

“Our acquisition of these prime Midtown South buildings allows us to expand within New York, where we already held the largest concentration in our portfolio, and will further establish Columbia as a significant player in Manhattan's most dynamic office district,” says Nelson Mills, president and CEO of CXP. “We view these acquisitions, along with our recent share repurchases, as an excellent use of the capital raised from our non-core dispositions.”

NYRT, which is liquidating and winding down in accordance with a plan of liquidation, said Wednesday the two boutique Chelsea properties—which total 446,967 square feet—were part of the collateral for a cross-collateralized and secured loan in the original principal amount of $760 million. In connection with the sale, NYRT paid approximately $348 million on account of the loan, and received net proceeds of approximately $146.2 million after satisfaction of debt, pro-rations and closing costs.