The partners also acquired the
leasehold interest in 379 West Broadway, a classic office/retail property in the Cast Iron Historic District.
The REIT has entered into a long term operating net
leasehold interest in the 40-story, 460,000 s/f office building with an ownership group led by RFR Holding LLC, which retained fee ownership of the property.
UK-based property investment company Palace Capital plc (LSE: PCA) has sold its long
leasehold interest in Warwick House, Wade Lane, Leeds to a private investment group for GBP 2.15m (USD 2.68m), GBP 0.75m above book value, the company said.
The company said its post tax gain on the sale of its 100%
leasehold interest in the hotel will be about $35 million.
The announcement follows the SL Green/Sutton joint venture's recent acquisition of a 49-year
leasehold interest covering the entire retail portion of 650 Fifth Avenue.
A well-known pub and restaurant in Durham has been sold to London & Edinburgh Inns off an asking price of pounds 1.5m for the long
leasehold interest.
Marylebone Warwick Balfour Group is selling its 91-year long
leasehold interest in London's Howard Hotel for pounds 75 million.
Modwen Properties plc (LSE: SMP) has completed the sale of its 45-year
leasehold interest in its purpose-built student accommodation at Swansea University Bay Campus for a total cash consideration of GBP 87.3m (USD 122.04m) to University Partnerships Programme, the company said.
Eastern Consolidated's Adelaide Polsinelli and Gary Meese are marketing the
leasehold interest at 44-58 East 8th on the street's south side between Greene and Mercer Streets.
Property agents storeys:ssp and Chiltern Mondiale have sold the long
leasehold interest in Unit 3 Belmont Business Park in County Durham.