American Realty Capital Pays $112M For NYC Office Building

Law360, New York (January 16, 2013, 2:25 PM EST) -- American Realty Capital's New York-focused real estate investment trust has agreed to purchase an office building at 218 West 18th St. in Manhattan's burgeoning Midtown South region for $112 million, the firm said late Monday.

For its first 2013 investment, American Realty Capital New York Recovery REIT Inc. agreed to buy the fee simple interest in the building, which is home to Red Bull North America Inc., SAE Institute of Technology Corp. and Microsoft Corp. subsidiary Yammer Inc., from a joint venture between Atlas Capital Group...
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