Brookfield, Blackstone consider One Liberty Plaza sale

Investors seeking up to $1.7 billion for the office tower

TRD New York /
Mar.March 05, 2020 10:15 AM
Brookfield Property Group’s Brian Kingston, Blackstone Group's Jonathan Gray and 1 Liberty Plaza (Credit: Google Maps)

Brookfield Property Group’s Brian Kingston, Blackstone Group’s Jonathan Gray and 1 Liberty Plaza (Credit: Google Maps)

Brookfield Property Partners and Blackstone Group are reportedly in talks about a possible sale of One Liberty Plaza, a 2.3 million-square-foot office tower in the Financial District.

The firms are hoping to get about $1.6 billion to $1.7 billion for the tower, according to Bloomberg, which cited sources familiar with the discussions.

Brookfield put the tower at 165 Broadway up for sale in October 2017, asking $1.6 billion. Months earlier, it refinanced the tower with an $850 million loan from Morgan Stanley.

That December, Blackstone acquired a 49 percent stake in the building. The firms have previously discussed a partial sale, according to reports.

Tenants at One Liberty Plaza include WeWork rival Convene, which leased 93,000 square feet in 2018, as well as law firm Cleary Gottlieb Steen & Hamilton LLP. [Bloomberg] — Sylvia Varnham O’Regan


Related Articles

arrow_forward_ios
Brookfield Property Group CEO Brian Kingston (Credit: Brookfield; Unsplash)

Brookfield Property’s Q1 losses come as retail tenants miss payments

Brookfield Property’s Q1 losses come as retail tenants miss payments
Brookfield Property Partners CEO Brian Kingston and two of Brookfield's largest retail assets, Ala Moana Center in Hawaii and Oakbrook Center in Illinois (Credit: Brookfield; iStock)

Behind Brookfield’s critical Covid moment

Behind Brookfield’s critical Covid moment
Blackstone's president Jonathan Gray and CEO Stephen Schwarzman (Credit: Gray via Drew Angerer/Getty Images; Schwarzman via Himanshu Bhatt/NurPhoto via Getty Images)

Blackstone: “We don’t need financing to get things done”

Blackstone: “We don’t need financing to get things done”
Blackstone’s Jonathan Gray and Starwood Capital Group’s Barry Sternlicht (Credit: Gray by  Drew Angerer/Getty Images; Sternlicht by Cindy Ord/Getty Images for 1 Hotels)

Blackstone, Starwood pick up stakes in Extended Stay America

Blackstone, Starwood pick up stakes in Extended Stay America
Clockwise from bottom left: 62-60 99th Street in Rego Park, 850-870 Third Avenue in Sunset Park and Square Mile Capital’s Craig Solomon with renderings of 550 Clinton Avenue in Brooklyn (Credit: Google Maps; Getty Images; Morris Adjmi Architects)

These were the top outer borough loans last month

These were the top outer borough loans last month
Blackstone's Jonathan Gray, Gaedeke Group's Sabine Gaedeke Stener and 44 Wall Street (Credit: Stener by Gaedeke Group; Gray by Drew Angerer/Getty Images, 44 Wall Street via Google Maps)

Blackstone sells office tower at 44 Wall Street for $200M

Blackstone sells office tower at 44 Wall Street for $200M
Brookfield's Ric Clark (Credit: Getty Images)

Brookfield’s Ric Clark steps back from day-to-day role

Brookfield’s Ric Clark steps back from day-to-day role
Brookfield Property Partners CEO Brian Kingston (Credit: Brookfield, iStock)

2020 “will get a little better” after peak year for retail bankruptcies: Brookfield

2020 “will get a little better” after peak year for retail bankruptcies: Brookfield
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...