Invesco lands $102M for 80 Broad St.

Company bought 95% stake last month

TRD New York /
Dec.December 18, 2017 04:01 PM

80 Broad Street and Invesco’s Martin Flanagan

Invesco just secured a $102 million mortgage for 80 Broad Street, a FiDi office tower the company bought a controlling stake in earlier this year.

The Atlanta-based firm purchased a 95 percent stake in the building last month, paying $235 million. Invesco assumed the mortgage from the property’s previous owners, Broad Street Development, according to documents filed with the city’s Department of Finance. AIG Investments provided the financing.

Representatives for Invesco didn’t immediately return a call seeking comment.

Broad Street Development bought the building in 2014 for $175 million. The company retained a 5 percent stake in the 425,000-square-foot tower and continues to manage the property.

In March, The Real Deal reported that Kushner Companies, RFR Realty and LIVWRK bought Invesco out of its stake in a large office and retail complex in Dumbo Heights. The deal was valued at $600 million.


Related Article

arrow_forward_ios

Real estate stocks push up this week as U.S.-China trade tensions ease

416 West 25th Street and Maverick Real Estate Partners principal David Aviram (Credit: Google Maps and LinkedIn)

Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case

Larry Silverstein and the Tel Aviv Stock Exchange (Credit: Getty Images)

Institutional investors swarm Silverstein’s new TASE bonds

Real estate firms get (green) thumbs down as they jump into climate bonds

With Fed rate cut on the mind, markets enter the week riding high

(Illustration by Carl Wiens)

NYC’s foreign investment landscape in the era of trade wars and heightened nationalism

New York Community Bank CEO and president Joseph Ficalora (Credit: Facebook, iStock)

Freed by Dodd-Frank, NYCB is on the hunt for M&A deals

Lightstone Group Chairman and CEO David Lichtenstein and the Tel Aviv Stock Exchange (Credit: Lightstone and iStock)

Lightstone becomes third NYC developer in a week to plan new Tel Aviv bond issuance, targeting $73M

arrow_forward_ios