X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LONDON-HSBC Holdings is contemplating the sale of three major office buildings in London, Paris and New York City. The move is a strategic play by HSBC in order to forgo a bailout from the British government, according to a report in The New York Times. The asking price for the three properties is $3.96 billion.

“As part of managing a significant global real estate portfolio HSBC is testing the market with three of its landmark property assets. HSBC constantly monitors the commercial property market carefully, making decisions based on what is most appropriate for the business and our stakeholders,” HSBC executives said in a statement.

The buildings that could enter the market include the 45-story 8 Canada Sq. here in London, as well as the 29-story 452 Fifth Ave. in New York and its office on the Champs Elysees in Paris. Should the sales take place, HSBC will likely lease its space back from the properties new owner.

CB Richard Ellis has been tapped to oversee the sale process, while Jones lang LaSalle will assist.

To read the The New York Times article click here.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.