Tishman Sells NYC Office Complex For $416M

Law360, New York (November 4, 2011, 3:13 PM EDT) -- Canadian real estate investment trust H&R REIT completed its $416 million acquisition of a high-rise office building in Queens, N.Y., from developer Tishman Speyer Properties, the seller’s representative CBRE Group Inc. announced Thursday.

H&R paid $415.5 million for Two Gotham Center — a new 22-story construction just across the East River from Midtown Manhattan in the Long Island City neighborhood of Queens — which was already leased by Tishman Speyer to the City of New York’s Department of Health and Mental Hygiene.

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