NEW YORK CITY—Temasek, a Singapore-based global sovereign wealth fund with a portfolio of approximately $197 billion, has expanded its lease by approximately 5,800 square feet to occupy 22,762 square feet at the Seagram Building, located at 375 Park Ave. Temasek had signed its initial lease with RFR Realty in 2013. The terms of the deal were not disclosed but an industry source tells GlobeSt.com that the asking rent in the building was $185 per square foot.
Temasek recently made headlines as Bloomberg reported last week that the fund with other investors agreed to purchase a $1.1 billion stake in Hainan Airlines. It was part of the restructuring of the Chinese conglomerate HNA Group.
Brian Goldman of Newmark Knight Frank represented Temasek in its expansion negotiations with RFR Realty.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
