Wednesday, May 4, 2011

$98.25 million loan sale secured by the leasehold interest of 1140 Avenue of the Americas in New York closed by HFF

NEW YORK, NY –HFF announced it has closed the loan sale secured by the leasehold interest of 1140 Avenue of the Americas (top left photo), a 236,000-square-foot, Class A office property in Manhattan.

HFF marketed the senior loan and mezzanine loan on behalf of the seller, a bank group led by Landesbank Baden-Württemberg (LBBW).  Affiliates of the Blackstone Group purchased the loans for $98.25 million.

1140 Avenue of the Americas is located within Midtown Manhattan close to Grand Central Station, Times Square, Bryant Park and Rockefeller Plaza on the corner of West 44th Street and 6th Avenue.  Originally built in 1926, the property was recently renovated and features 22 stories of office space. 

The HFF team representing the seller included senior managing directors Andrew Scandalios (middle right photo) and Whitney Wilcox and director Jeffrey Julien.

Landesbank Baden-Württemberg (LBBW) is a universal bank and an international commercial bank.

Blackstone is one of the world’s leading investment and advisory firms.  The firm’s alternative asset management businesses include the management of private equity funds, real estate funds, hedge fund solutions, credit-oriented funds and closed-end mutual funds. 

The Blackstone Group also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services.

 Further information is available at
Andrew G. Scandalios, HFF Senior Managing Director, (212) 245-2425
 Whitney H. Wilcox, HFF Senior Managing Director, (212) 245-2425
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500

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