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Real Estate Rumors: Equator Capital, Axonic, Office Depot

Law360, Los Angeles (August 11, 2017, 6:52 PM EDT) -- Private equity shop Equator Capital Management has reached a deal to pay $70 million for a 99-year ground lease at a Staten Island development site where it plans to build a self-storage facility, The Real Deal reported Friday. The deal is for a ground lease at 2601 Veterans Road W., and the landlord of the property is construction materials seller A Tranchina Inc., The Real Deal said. Equator plans to build 136,000 square feet at the site, according to the report.

Axonic Properties has scored $50...
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