SL Green Realty found two joint venture partners to help it acquire its previously-announced purchase of 450 Park Ave., a deal that has now closed.
The ownership group consists of institutional investors from South Korea and Israel. SL Green retained a 25.1% interest in the property and will oversee leasing and management of the property on behalf of the partnership.
The partnership financed the acquisition with a $267.0 Million senior mortgage financing provided by a bank group led by Wells Fargo Bank, N.A.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
