SL Green To Pull In $72M For Stake In Midtown Office Tower

Law360, New York (October 25, 2012, 6:07 PM EDT) -- Prominent New York City office landlord SL Green Realty Corp. is selling off a 49.5 percent chunk of a boutique Fifth Avenue building for $72 million to a joint venture backed by the Jones Lang LaSalle and Quantum Global groups, SL Green announced Thursday.

The equity stake in the 39-story, mostly office tower at 521 Fifth Ave. represents the second acquisition by Plaza Global Real Estate Partners, the $1 billion joint venture that Switzerland's Quantum Global Real Estate AG and London-headquartered LaSalle Investment Management Inc. formed...
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