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RXR Closes on Midtown Office Purchase

NEW YORK CITY—The firm also has inked a long-term renewal with UBS to keep the securities concern at the property.

1285 6thAve (2) RXR paid $1.65 billion for 1285 6th Ave., making the sale the city’s largest deal so far in 2016.

NEW YORK CITY— An affiliate of RXR Realty has closed on the $1.65 billion acquisition of 1285 Ave. of the Americas from AXA Financial and some institutional investors. RXR also signed a long-term lease renewal with UBS to keep its North American headquarters in the 39-story, 1.8 million-square-foot office building in Midtown.

Financing for 1285 Ave. of the Americas was provided to RXR by AIG and Morgan Stanley, with $1.1 billion of acquisition financing and an additional $100 million future funding facility.

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Rayna Katz

Rayna Katz

Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.

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