Foreign investors acquire two Manhattan buildings for $2b
In separate deals, two Manhattan office buildings have been sold for more than $2.07 billion.
The highest priced acquisition was the News Corp. Building, located at 1211 Sixth Ave.; the property is valued at $1.83 billion. Callahan Capital Partners, on behalf of the Caisse de dépôt et placement du Québec, purchased the remaining 49 percent in the 1.94 million-square-foot office from its partner Beacon Capital Partners.
An official announcement has not been released; however, Real Capital Analytics estimates the sales price to be approximately $896.7 million.
In 2013, the Caisse de dépôt purchased a 51 percent managing member interest in the property, also known as 1211 Avenue of the Americas. Beacon Capital Partners had purchase