Investcorp buys two Garment District offices for $155m

Investcorp buys two Garment District offices for $155m

Published at: 2017-11-08 15:31 | Author: CIJ USA
Investcorp, the Bahrain-based bank has formed a joint venture with Brickman to buy a two office buildings in the Garment District. The duo paid $155 million for the assets to the owner, New York REIT, or just under $575 per sqf. The two buildings, 256 West 38th Street and 229 West 36th Street, total 270,000 square feet. The deal was finalized with an $85 million mortgage provided by MetLife. Cushman & Wakefield’s Doug Harmon, Adam Spies, Adam Doneger and Kevin Donner represented the seller in the sale.

Similar Stories:

Normandy Real Estate Partners, Taconic Capital buy Gateway Tower
A joint venture between Normandy Real Estate Partners and Taconic Capital secured a $35.56  »
Signature Acquisition buys 100 Matawan Road in New Jersey for $19.75m
Signature Acquisition purchased a class A office building in Matawan, New Jersey for $19.7  »
Rose & Berg buys Summit at Southpoint offices in Jacksonville
Rose & Berg Realty Group secured a $25m loan to acquire Summit at Southpoint, an urban  »
Owens Realty Capital buys office trio with $18m in debt
Owens Realty Capital has landed $18 million in debt financing and joint venture equity for  »
“Steady,” “healthy,” “robust” and even “outperformed” were some of the adj   »
Orlando’s economic prospects haven’t looked so positive in ages. Not only are Florida   »
From the north to the south of Florida, occupancy rates of the largest office towers are r   »
Tampa mayor Bob Buckhorn was on hand at the groundbreaking ceremony as a show of support f   »