NEW YORK CITY-Making yet another play in the Lower Manhattanoffice market, private equity and asset management firmSavanna has acquired a controlling interest in 2Rector Street in partnership with StellarManagement, according to a joint statement from the twocompanies.

Data from Real Capital Analytics shows thatSavanna initially acquired part of the $100 million first mortgageat a discount in 2007. In 2010 Savanna worked with Stellar torecapitalize the property, providing a $10 million mezzanine loanon the asset. Savanna recently worked with Stellar to buy outStellar’s partners, including Lehman Brothers,acquiring a controlling stake in the property.

The property is a 464,000-square-foot, 26-story multi-tenantoffice building located adjacent to the World Trade Centerdevelopment, with frontage occupying the full block on RectorStreet between Greenwich Street and Trinity Place. Tenants hereinclude the New York City Department of Transportation, MerrillLynch and Studio Daniel Liebskind LLC.