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DeAWM buys Manhattan office tower valued at $502m

by Andrea Waitrovich

Deutsche Asset & Wealth Management has acquired a majority interest in 222 Broadway in New York City for one of its investment funds.

The sellers were L&L Holding Co., a Manhattan-based owner/operator of class A properties, and Beacon Capital Partners. The sellers purchased the asset in 2012 for $230 million.

The sales price was not disclosed in the firm’s official announcement; however, Real Capital Analytics

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