1411 Broadway

Ivanhoe Cambridge, a Montreal-based property management and development company, today announced its acquisition of a 49.9 percent ownership interest in 1411 Broadway for over $360 million, according to a press release from the firm.

Ivanhoe now has managing interest in the 40-story Class A property, which it owns in a joint venture with the Swig Company. Both parties will shell out a “significant investment” toward building upgrades, including physical improvement and energy efficiency, the statement said. [more]