LONDON-The special servicer for the Aviva Tower complex here is offering the property for about $456 million. CB Richard Ellis Loan Servicing Ltd. made the announcement to White Tower CMBS floating note holders Monday.
This 23-story tower is reportedly the last of the nine White Tower properties that backed failed notes by investor Simon Halabi. His portfolio had an estimated worth of about $3.4 billion before the economy crashed and he defaulted. Most of the rest of the properties were purchased in July 2010 by the Carlyle Group for $1 billion.
The price for Aviva Tower, leased to the insurance company, equates to a 5.5% net initial yield, though CBRE acknowledged the price could be accepted or rejected by the market. The company said it will hold a conference call meeting for note holders about the sale on Feb. 17.
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