Transactions - OCTOBER 12, 2017

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

Columbia Property Trust buys two NYC properties for $514m

by Andrea Waitrovich

Columbia Property Trust has acquired two Midtown South office assets from New York REIT for $514 million.

The acquisition encompasses 245-249 West 17th St., two adjoining office buildings collectively comprising 281,294 square feet, and 218 West 18th Street, a 165,670-square-foot office building.

With this acquisition, Columbia’s presence in New York has increased to seven class A properties comprising a total of 2.6 million square feet, which together represent 44 percent of Columbia’s overall portfolio based on gross real estate assets.

“We believe these recent investments, along with significant embedded growth in our existing portfolio from recent leasing achievements, will allow us to deliver meaningful earnings growth over the next several quarters,” said Jim Fleming, executive vice president and CFO. “Notably, our recent execution of a 119,000-square-foot renewal with DLA Piper at our Silicon Valley property last month addressed our largest immi

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy