DeAWM buys Manhattan office tower valued at $502m
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