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New York

REITs wrestle with new rivals

Still among the most aggressive NYC buyers, REITs are facing a new round of competition from foreign investors

From left: Hans Nordby, Brad Case and Keven Lindemann
From left: Hans Nordby, Brad Case and Keven Lindemann

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From the February issue: Real estate investment trusts are among the most aggressive players in the New York market for trophy real estate. In the last year, they’ve purchased some of New York City’s priciest properties, including the $778 million acquisition of 338 Greenwich Street, which was occupied by Citigroup, and the $800 million purchase of a portion of the World Trade Center’s retail. [more]