American Realty Capital New York City REIT has acquired a 22-story, 253,418-square-foot office tower in Midtown Manhattan for $180 million. The property, at 1140 Avenue of the Americas, was sold by Blackstone Real Estate Partners VI.
Easterly Government Properties, a REIT that invests in office buildings leased primarily to the federal government, raised $180 million in an initial public offering that was priced at $15 per share. The REIT sold 12 million shares, and underwriters have a 30-day option to buy an additional 1.8 million.
MetLife bolstered its commercial real estate holdings with the purchase of the Fairmont Hotel in Washington, D.C., from Ivanhoe Cambridge for $180 million. The insurer's equity real estate portfolio totals nearly $16 billion.
Australia and New Zealand Banking Group, DBS Bank and Standard Chartered have been hired by Fortune Real Estate Trust to arrange and underwrite a $180 million loan for the REIT, according to a source. The three banks will look for other investors for the three-year loan, which includes a revolving credit facility. Fortune REIT plans to use the proceeds to acquire two properties in Hong Kong.