Funds affiliated with Blackstone Real Estate acquired a 46 percent joint-control stake in 1345 Avenue of the Americas — owned by Fisher Brothers — at a total valuation of $1.4 billion.
Fisher Brothers, investing alongside Blackstone, also increased its majority ownership as part of the transaction. In addition, Fisher Brothers and Blackstone have completed a $850 million CMBS refinancing provided by Morgan Stanley, JP Morgan Chase, and Citibank.
“This transaction reflects the tremendous value that premier, highly amenitized office buildings continue to offer to leading institutional investors, such as Blackstone,” said Winston Fisher, partner at Fisher Brothers. “The completion of the $850 million refinancing package enables us to continue to strategically invest in the asset, while simultaneously increasing our ownership stake in the building. We remain bullish on the long-term Manhattan investment opportunity, which has been the hallmark of our family’s b
