RXR has launched its Gemini Office Venture. This new multibillion-dollar office platform invests in premier class A New York City office that can be acquired at attractive market values. The Gemini platform is designed to serve as a vehicle through which institutional office owners can contribute their legacy office holdings in exchange for liquidity and an interest in a high-quality, diversified portfolio, managed by a leading operating and development company that can reimagine, repurpose and create value.
The Gemini Office Venture, which has made commitments totaling more than $3.5 billion in transaction value to date, comprises a strategic investment from a consortium featuring The Baupost Group, Criterion Real Estate Capital, Liberty Mutual Investments, Abrams Capital and King Street Capital Management.
“Project Gemini represents the culmination of our post-COVID office strategy and reflects our deep conviction in the New York City office market, which remains u
