SL Green Realty Corp. has sold a 49.9 percent interest in 245 Park Avenue to a U.S. affiliate of Mori Trust Co., Ltd. at a gross asset valuation of $2 billion.
“We are thrilled to partner with Mori Trust Co., a premier development and investment company based in Tokyo,” said Harrison Sitomer, CIO of SL Green. “The formation of this new partnership with Mori Trust reflects the continuing allure of investing in trophy midtown N.Y. assets and resilience of the Park Avenue corridor as New York’s most desirable office market. It is also an affirmation of the institutional capital markets’ recognition of the enormous potential for 245 Park to benefit from strategic investments and thoughtful stewardship. We are seeing strong demand from tenants and investors for high-quality, amenitized office properties located in highly commutable areas. As their first investment in New York City, Mori Trust shares our belief in this market and commitment to elevate 2