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Sale of Iconic Manhattan High-Rise Exceeds $1B
GIC, Singapore’s sovereign wealth fund, has acquired a majority stake in the 60 Wall St. office tower, which serves as the North American headquarters of Deutsche Bank.
Macerich Closes First of Three Giant Joint Ventures
The Macerich Co. has closed on a previously announced joint venture with GIC, in which the regional mall REIT contributed a 40 percent interest in four properties.
January 2015 – Briefs/Sales & Development
Blackstone Sells IndCor Properties to GIC for $8B; Massachusetts Ballot Initiative Opens Door to $800M MGM Resort in Springfield; BGC’s Acquisition of ARA to Drive NGKF’s M-H Growth; Jamestown Grabs 220 KSF Cambridge Office Building for $136M; MG, Florida East Coast Realty & Corigin Plan 60-Story Condo Tower in Miami; Miami Worldcenter to Add 60-Story Condominium Tower; Ivanhoe Cambridge, Callahan Capital Buy 2 Seattle Office Buildings for $280M; TIAA-CREF Buys 21 Penn, 2 Herald Square in Midtown Manhattan.
Blackstone decided to skip a planned IPO for IndCor Properties and sell the 117 million-square-foot industrial platform to GIC instead. Here’s why.National 03 December 2014 15:16