NOVEMBER 22, 2013

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Recent commercial real estate acquisitions

by Andrea Waitrovich

Below is a sampling of recent property transactions tracked by Real Capital Analytics. The largest completed transactions included a mixed-used property in New York City and an office building Philadelphia.

SL Green Realty Corp. signed an agreement to acquire The Olivia in New York City from Stonehenge Partners and CDP Capital for approximately $386.8 million. The 492,987-square-foot building was completed last year. The 36-story tower on 33rd Street has 333 luxury rental apartments and 270,000 square feet of commercial space, with a movie theater, two office suites, a parking garage and retail stores.

In Philadelphia, Square Mile Capital Management sold 1500 Spring Garden St., a 1 million-square-foot office building, for $184 million. A venture between U.K.-based Nightingale Partners and Carlton Associates bought the 12-story building located in the city’s Market Street West submarket. 

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