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SL Green Realty has sold a 49% interest in 220 East 42nd St. to a real estate fund managed by Meritz Alternative Investment Management for $790.1 million. The REIT has retained a 51% interest in the property and will continue to oversee its management and leasing. The transaction generated net cash proceeds to SL Green of $136.1 million. 

This is the fourth transaction on which two firms have partnered. 

Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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