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GREENWICH, CT-In what is one the largest lease deals in Fairfield County so far in 2003, Amaranth Advisors has signed a long-term lease for 123,000 sf of space at the Greenwich American Centre complex located at One American Lane here.

The deal, announced by Tower Realty Management Corp. of San Francisco, is a major expansion for the multi-strategy hedge fund firm. Amaranth is expanding its presence on the second floor of One American Lane from its current 25,000 sf to 123,000 sf. Once the firm takes over its new space, Amaranth will occupy most of the second floor of the 600,000 sf One American Lane property.

Joseph S. Grubb, Jr., regional general manager of Tower Realty, along with Jay S. Hruska, executive director of Cushman & Wakefield of Connecticut, represented the building owner Greenwich American Centre Inc. in the lease deal. CB Richard Ellis’ Rob Martin and Steven Greenbush represented Amaranth Advisors in the transaction.

Hruska notes, “The landlord has been enormously successful in attracting some of the most significant financial services tenants regionally and nationally to Greenwich American Centre.”

Last year, Andor Capital, another hedge fund and financial services firm, signed a lease deal of 145,000 sf at the property.

Tower Realty’s Grubb says, “Amaranth’s long-term commitment to Greenwich American Centre further solidifies the building’s position as a premier location for major financial services companies. We remain on a position to target tenants from outside the local area because of our floor size, amenities, location and proximity to Wall Street. These advantages are very attractive to these firms.”

He adds, “Several other transactions for sizable blocks of space are currently in negotiation. We anticipate making additional leasing announcements shortly.”

While the Greenwich American Centre has been a haven for hedge fund/financial services firms, the same can be said for some other office properties in or near downtown Greenwich. Recently, AQR (Applied Quantitative Research) Capital Management LLC, a New York City-based asset management firm, signed a lease for 21,737 sf of space at Two Greenwich Plaza. The firm is moving out of offices in New York City and relocating to its new home in Greenwich by the spring of 2004.

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