Blackstone is in advanced talks to acquire a 49% stake in a new Manhattan office tower in a deal that values the skyscraper at $2.85bn, providing a shot of confidence for New York during tough times.
A venture led by Brookfield Asset Management could reach an agreement to sell the stake in the One Manhattan West property to Blackstone in the next few days, said people familiar with the matter.
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Bloomberg previously reported that Cushman & Wakefield was advising Brookfield in soliciting interest in the stake sale.
The 70-story office tower nabbed the biggest financing deal of 2020 when Brookfield and Qatar Investment Authority scored $1.5 billion in September 2020 through the CMBS market. Two mezzanine loans totaling $300 million boosted the financing package to $1.8 billion.
Source: Wall Street Journal
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