NYC Trophy Deals Signal Widespread Recovery

Law360, New York (June 4, 2013, 8:50 PM EDT) -- Two major New York City deals announced this week at the General Motors building and 650 Madison Ave. are symbols of a recovering economy and harbingers of deals to come, experts say.

On Monday, The Carlyle Group LP announced that Crown Acquisitions Inc. and Highgate Hotels LP agreed to pay $1.3 billion for the 27-story office tower at 650 Madison Ave. that Carlyle had bought in 2008. On the same day, a source confirmed that Zhang Xin, CEO of office landlord Soho China Ltd., had teamed...
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