NEW YORK CITY-Ivanhoe Cambridge, which last week purchased the Wells Fargo Center in Seattle for $390 million, has along with a partner acquired a 49% stake in 1211 Avenue of the Americas here.
The real estate arm of Canada's largest pension fund teamed with Callahan Capital Partners of Chicago on the deal that put the value of the property that is home to News Corp., at $1.75 billion, according to Bloomberg News. The 1211 Avenue of the Americas transaction was brokered by Eastdil Secured LLC's Doug Harmon and Adam Spies.
The 45-story, 1.94-million-square-foot office tower was acquired by a group led by Beacon Capital Partners Inc. in 2006 for $1.52 billion, according to Real Capital Analytics Inc. See story st Bloomberg News.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
