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Savanna
Savanna is a real estate private equity firm and asset management company that pursues real estate equity and debt investments. The company was founded in 1992 by Christopher Schlank, and in August 2014 was served with two separate lawsuits from sites they were developing.
In 2006, they created Savanna Real Estate Fund I, LP, a discretionary institutional real estate private equity fund, and have accumulated around $2.3 billion in total capital across 11.9 million square feet of real estate property. Savanna has consistently achieved risk-adjusted returns at all points in the market cycle by targeting and investing in real estate in the Northeast Corridor.
The firm recently unveiled renderings for a nine-story commercial building at 540 West 26th Street in Chelsea, complete with a two-story at gallery. Lehmann Maupin Gallery sought $10 million in compensatory damages and an undisclosed sum for punitive damages, claiming that the landlords lack a valid permit to demolish the building. Savanna was also hit with a $7.5 million breach of contract lawsuit by the board of managers at 141 Fifth Avenue, alleging professional negligence.
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07/25/18
...was on behalf of the buyer, New York-based Savanna. The firm also completed the sale to Savanna on behalf of the Blackstone Group...
07/25/18
...A rendering of Chelsea540 and Savanna Partners' Christopher Schlank (Credit: Chelsea540)
The boutique office development Chelsea540 is under contract for...
07/24/18
...Citigroup is planning to shrink its space at Savanna...
07/16/18
...Stonehenge Village on the Upper West Side and Savanna Partners $640 million purchase of 5 Bryant Park in Midtown...
06/27/18
...s $1 billion stake purchase at 60 Wall Street and Savanna’s $640 million purchase of 5 Bryant Park. Before joining HFF in 2012, he worked at Massey...
06/21/18
...on the $640 million sale of 5 Bryant Park to Savanna, after a two-year off-and-one search for a buyer. The price per foot was $980. The...
06/18/18
...hotel project that's still needs a construction loan.
2) Savanna in the park - $463 million
Private equity investor Savanna acquired the office tower 5 Bryant...
05/25/18
...assets under management. Those investments were made through Savanna, headed by Chris Schlank and Nicholas Bienstock; Starwood, headed by Barry Sternlicht; CIM and...
05/23/18
...lease earlier in May for 23,000 square feet in Savanna’s Chelsea building at 31 West 27th Street. The company also inked a lease for...
05/08/18
...for the Feil Organization declined to comment.
Nearby, Savanna is planning a 27-story office building on the other side of the block at...
05/08/18
...York City, grabbing 23,000 square feet of space in Savanna’s Chelsea building at 31 West 27th Street, according to sources familiar with the deal...
05/01/18
...York property stake. The team is also brokering Savanna’s $640 million purchase of 5 Bryant Park. (Chicago-based asset manager LaSalle Investment Management is an...
04/27/18
...Buyer: Ramrock Real Estate
Seller: Hornig Capital Partners, Savanna, Chelsea Village Associates
Ramrock Real Estate purchased the building at Bushwick’s 95 Evergreen Avenue...
04/10/18
...Chris Schlank, Daren Hornig and 95 Evergreen Avenue
Savanna and Hornig Capital Partners sold the land under the former Schlitz Brewery building in...
03/21/18
...the rapper's entertainment company has hit the block.
Savanna and the Silvermintz family are looking to sell a newly constructed Chelsea office building...
03/15/18
...a deal to lease roughly 20,000 square feet at Savanna’s 1825 Park Avenue at the corner of 125th Street, Crain’s reported. The bank...
...was a joint venture between Pantzer Properties and Savanna, a real estate investment manager based in New York City. Investcorp, a Bahrain-based investment...
03/05/18
...of its trophy office towers along Bryant Park.
Savanna signed a contract late last week to acquire 5 Bryant Park, also known as 1065 Sixth...
03/05/18
...Street for $906 per square foot ($125 million) in 2016, and Savanna paid $872 per square foot (or $126 million) for 31-35 West 27th Street last year.
In...
...Street for $906 per square foot ($125 million) in 2016, and Savanna paid $872 per square foot (or $126 million) for 31-35 West 27th Street last year.
In...
02/19/18
...Marriott Hotels.
10) Such great Morningside Heights - $176 million
Savanna can count on $176 million in construction financing from Deutsche Bank for its Morningside Heights...
02/19/18
...attracting high-tech manufacturers, film-industry companies and advertising agencies.
Savanna and Hornig Capital Partners had the same idea with their redevelopment of the former...
02/08/18
...Street for $906 per square foot ($125 million) in 2016, and Savanna paid $872 per square foot (or $126 million) for 31-35 West 27th Street last year.
With...
01/24/18
...Junction.
In 2015, Vanbarton bought the ground lease from Savanna in a deal valued at $265 million. The company recently closed its acquisition of 990 Sixth...
01/19/18
...nd Street (Credit: Max Dworkin and Google Maps)
Savanna landed a $176 million construction loan from Deutsche Bank for its planned Morningside Heights condominium...
Savanna Partners, General Counsel
430 Park Avenue, 12th Floor, New York, NY, (212) 229-0101
430 Park Avenue, 12th Floor, New York, NY, (212) 229-0101
Valerie Kitay is a New York City-based lawyer and general counsel at Savanna...
Savanna, Founder, Managing Partner
430 Park Avenue, New York, NY, 212.229.0101
430 Park Avenue, New York, NY, 212.229.0101
Christopher Schlank is founder and managing partner at Savanna, a private equity firm...
Savanna, Co-managing partner
430 Park Avenue, 12th Floor, New York, NY, 212.229.0101
430 Park Avenue, 12th Floor, New York, NY, 212.229.0101
Nicholas Bienstock is co-managing partner at Savanna private equity firm with an eye...
Savanna, Vice President, Financing and Acquisitions
430 Park Avenue, 12th Floor, New York, NY, 212.229.0101
430 Park Avenue, 12th Floor, New York, NY, 212.229.0101
Edgar Cabrera is vice president of finance and acquisitions at Savanna private equity...
Savanna, Vice President
430 Park Avenue, 12th Floor, New York, NY, 212.229.0101
430 Park Avenue, 12th Floor, New York, NY, 212.229.0101
Thomas Farrell is vice president at Savanna private equity firm, where he oversees...
- Event Sales
- Address 540 West 26th Street
- Neighborhood Chelsea
- Borough Manhattan
- Square feet 167,000
- Price $ 257,000,000
- Publication Date 08/06/2018
- Event Date 08/01/2018
- Party 1 Savanna, Silvermintz family
- Party 1 Brokerage Cushman & Wakefield
- Party 1 Broker Adam Spies, Doug Harmon, Joshua King, Kevin Donner, Adam Doneger, Anthony Pasqual
- Party 2 Ramrock Real Estate
- Party 2 Brokerage Lincoln Property
- Party 2 Broker Jim Stein
notes
The buyer acquired the Chelsea property for $257 million.
- Event Office Leasing
- Address 540 West 26th Street
- Neighborhood Chelsea
- Borough Manhattan
- Square feet 67,100
- Publication Date 07/16/2018
- Event Date 07/13/2018
- Party 1 Savanna Real Estate Funds
- Party 2 Roc Nation
notes
The entertainment company inked a lease for the Chelsea space.
- Event Financing
- Address 5 Bryant Park
- Neighborhood Times Square
- Borough Manhattan
- Square feet 682,988
- Price $ 463,000,000
- Publication Date 06/04/2018
- Event Date 05/23/2018
- Party 1 Savanna
- Party 1 Brokerage JLL, HFF
- Party 1 Broker Kellogg Gaines, Aaron Niedermayer, Mike Tepedino, Chris Peck
- Party 2 Deutsche Bank
notes
The buyer secured a financing loan of $463 million to purchase a Manhattan property.
- Event Sales
- Address 5 Bryant Park
- Neighborhood Times Square
- Borough Manhattan
- Square feet 682,988
- Price $ 640,000,000
- Publication Date 06/04/2018
- Event Date 05/23/2018
- Party 1 Blackstone Group
- Party 1 Brokerage JLL, HFF
- Party 1 Broker Anthony Ledesma, Peter Nicoletti, Andrew Scandalios, Graham Stephens
- Party 2 Savanna
notes
The buyer secured the Times Square property for $640 million.
- Event Office Leasing
- Address 31 West 27th Street
- Neighborhood Chelsea
- Borough Manhattan
- Square feet 23,000
- Publication Date 05/15/2018
- Event Date 05/08/2018
- Party 1 Savanna
- Party 1 Brokerage CBRE
- Party 1 Broker Paul Amrich, Patrice Meagher, Neil King, Meghan Allen
- Party 2 Knotel
- Party 2 Brokerage Newmark Knight Frank
- Party 2 Broker Michael Morris, Greg DiGioia
notes
The flexible-office company inked a 7-year lease for the 4th and 10th floors of the Chelsea building.
- Event Office Leasing
- Address 2417 Third Avenue
- Neighborhood Mott Haven
- Borough Bronx
- Square feet 8,645
- Publication Date 05/07/2018
- Event Date 05/01/2018
- Party 1 Savanna, Hornig Capital Partners
- Party 1 Brokerage Cushman & Wakefield, JRT Realty Group
- Party 1 Broker Mitchell Arkin, Omar Sozkesen, Myles Fennon, Ellen Israel, Lauren Calandriello, Greg Smith
- Party 2 Lumiode
- Party 2 Brokerage SquareFoot
- Party 2 Broker Oliver Hunt, jason Majlessi
notes
The semiconductor technology startup inked a lease in Mott Haven.
- Event Sales
- Address 95 Evergreen Avenue
- Neighborhood Bushwick
- Borough Brooklyn
- Square feet 153,000
- Price $ 81,300,000
- Publication Date 04/17/2018
- Event Date 04/10/2018
- Party 1 Savanna, Hornig Capital
- Party 2 Ramrock
notes
The buyer secured the Bushwick property for $81.3 million.
- Event Financing
- Address 525 West 122nd Street
- Neighborhood Morningside Heights
- Borough Manhattan
- Square feet 451,000
- Price $ 176,000,000
- Publication Date 02/06/2018
- Event Date 01/19/2018
- Party 1 Savanna
- Party 2 Deutsche Bank
notes
The developer secured a $176 million loan for its planned 32-story building in Morningside Heights.
- Event Financing
- Address 19 West 44th Street
- Neighborhood Midtown
- Borough Manhattan
- Square feet 303,943
- Price $ 92,000,000
- Publication Date 10/23/2017
- Event Date 10/18/2017
- Party 1 Savanna
- Party 2 Mesa West
notes
The real estate developer acquired a $92 million mortgage for the Berkley Building.
- Event Sales
- Address 19 West 44th Street
- Neighborhood Midtown
- Borough Manhattan
- Square feet 303,943
- Price $ 195,000,000
- Price per foot $ 642.00
- Publication Date 10/23/2017
- Event Date 10/18/2017
- Party 1 Deka Immobilien
- Party 1 Brokerage Colliers International
- Party 1 Broker Richard Baxter, Robert Stamm
- Party 2 Savanna
notes
The real estate developer and investment manager acquired the 16-story building for $195 million.
- Event Financing
- Address 106 West 56th Street
- Neighborhood Midtown
- Borough Manhattan
- Square feet 90,000
- Price $ 100,000,000
- Publication Date 10/01/2017
- Event Date 08/18/2017
- Party 1 Savanna; Atom Assets
- Party 1 Brokerage JLL
- Party 2 United Overseas Bank; Canyon Partners Real Estate
notes
The partnership acquired a $100 million construction loan for their office development.
- Event Office Leasing
- Address 95 Evergreen Avenue
- Neighborhood Bushwick
- Borough Brooklyn
- Square feet 158,150
- Publication Date 09/15/2017
- Event Date 09/12/2017
- Party 1 Savanna, Hornig Capital Partners
- Party 2 NYC Department of Citywide Administrative Services
notes
The city agency signed a 20-year lease for the entire building.
- Event Financing
- Address 31 West 27th Street
- Neighborhood NoMad
- Borough Manhattan
- Square feet 106,800
- Price $ 83,500,000
- Publication Date 09/01/2017
- Event Date 08/15/2017
- Party 1 Savanna
- Party 2 Aareal Capital
notes
The vertically integrated real estate investment manager acquired a loan.
- Event Sales
- Address 31 West 27th Street
- Neighborhood NoMad
- Borough Manhattan
- Square feet 144,500
- Price $ 126,000,000
- Publication Date 08/01/2017
- Event Date 07/14/2017
- Party 1 Westbrook Partners
- Party 1 Brokerage Hodges Ward Elliott
- Party 1 Broker William Silverman, Paul Gillen, Daniel Parker
- Party 2 Savanna
notes
The buyer acquired a new property
- Event Office Leasing
- Address 434 Broadway
- Neighborhood Soho
- Borough Manhattan
- Square feet 7,205
- Publication Date 07/01/2017
- Event Date 05/16/2017
- Party 1 Savanna
- Party 1 Brokerage JLL
- Party 1 Broker Mitchell Konsker, Kip Orban, Benjamin Bass
- Party 2 Elysium Health
- Party 2 Brokerage CBRE
- Party 2 Broker Rob Wizenberg
notes
The consumer health company signed a 8-year lease for the entire 2nd floor at $75 per square foot.
- Event Office Leasing
- Address 1825 Park Avenue
- Neighborhood Harlem
- Borough Manhattan
- Square feet 9,276
- Price per foot $ 45.00
- Publication Date 06/01/2017
- Event Date 04/17/2017
- Party 1 Savanna
- Party 1 Brokerage JRT Realty, Cushman & Wakefield
- Party 1 Broker Ellen Israel, Lauren Calandriello, Greg Smith; Mitchell Arkin, Omar Sozkesen
- Party 2 NADAP Inc.
- Party 2 Brokerage Norman Bobrow & Company
- Party 2 Broker Joshua R. Berger, Alex Lubin
notes
The Career Compass Program signed a 6-year lease for part of the 5th floor at this historic building in Harlem.
- Event Financing
- Address 110 William Street
- Neighborhood Financial District
- Borough Manhattan
- Square feet 928,000
- Price $ 264,700,000
- Publication Date 05/01/2017
- Event Date 03/06/2017
- Party 1 KBS Capital Advisors and Savanna
- Party 2 Morgan Stanley
notes
The entity secured a refinance loan of $264.7 million, consolidating a loan for $205 million and two others totaling $29.85 million.
- Event Financing
- Address 110 William Street
- Neighborhood Financial District
- Borough Manhattan
- Square feet 788,241
- Price $ 265,000,000
- Publication Date 04/01/2017
- Event Date 02/15/2017
- Party 1 KBS Capital Advisors, Savanna
- Party 2 Morgan Stanley Mortgage Capital Holdings
notes
The company secured a $265 million in loans for the office property.
- Event Financing
- Address 31-00 47th Avenue
- Neighborhood Long Island City
- Borough Queens
- Square feet 568,000
- Price $ 200,000,000
- Publication Date 02/01/2017
- Event Date 12/18/2016
- Party 1 Savanna
- Party 2 Blackstone Group
notes
The company secured a $200 million acquisition loan for its office property.
- Event Sales
- Address 31-00 47th Avenue
- Neighborhood Long Island City
- Borough Queens
- Square feet 568,000
- Price $ 257,500,000
- Publication Date 02/01/2017
- Event Date 12/18/2016
- Party 1 Jamestown
- Party 2 Savanna
notes
The mixed-use office and retail property sold for $257.7 million.
- Event Sales
- Address 55 Broadway
- Neighborhood Financial District
- Borough Manhattan
- Square feet 346,000
- Price $ 105,000,000
- Publication Date 02/01/2017
- Event Date 12/18/2016
- Party 1 Harbor Group International
- Party 2 Paramount Group, Savanna
notes
The partnership acquired a minority Preferred-Equity stake of $105 million in the office tower.
- Event Financing
- Address 436 Broadway
- Neighborhood Soho
- Borough Manhattan
- Square feet 9
- Price $ 66,200,000
- Publication Date 01/01/2017
- Event Date 11/17/2016
- Party 1 Deutsche Bank
- Party 2 Savanna Real Estate
notes
The company secured a $66.2 million refinance loan for its mixed-use property.
- Event Retail Leasing
- Address 434 Broadway
- Neighborhood SoHo
- Borough Manhattan
- Square feet 5,800
- Publication Date 10/01/2016
- Event Date 08/15/2016
- Party 1 Savanna
- Party 1 Brokerage Cushman & Wakefield
- Party 1 Broker Andrew Kahn
- Party 2 Official Made in Italy
- Party 2 Brokerage Nest Seekers International
- Party 2 Broker Lisa Levitt
notes
The Italian goods store signed a short-term lease.
- Event Sales
- Address 45 West 139th Street
- Neighborhood East Harlem
- Borough Manhattan
- Price $ 315,000,000
- Publication Date 08/01/2016
- Event Date 06/17/2016
- Party 1 L+M Development Partners, Savanna
- Party 1 Brokerage Savills Studley
- Party 1 Broker Jeffrey Baker, Graham Hobbs
- Party 2 Fairstead Capital
- Party 2 Brokerage Ariel Property Advisors
- Party 2 Broker Victor Sozio, Shimon Shkury
notes
The multifamily residential building portfolio sold for $315 million.
- Event Financing
- Address 3080 Broadway
- Neighborhood Harlem
- Borough Manhattan
- Square feet 250,000
- Price $ 34,600,000
- Publication Date 04/01/2016
- Event Date 02/15/2016
- Party 1 Savanna
- Party 2 Pacific Western Bank
notes
The company secured a $34.6 million loan.
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...and Mental Hygiene took over 60,000 square feet at Savanna’s One Court Square tower in Long Island City. The department will sublease two...
...last year totaling $115 million from Deutsche Bank for Savanna and the Silvermintz family’s commercial development project at 540 West 26th Street in Chelsea...
...Mott Haven, such as real estate investment firm Savanna and Hornig Capital Partners’ eight-story loft project at 2415 Third Avenue.
Meanwhile, a number of...
...private funds such as Blackstone, Rockpoint Group and Savanna were among the few players with money to spend. While banks and insurers were...
...few landlords had rates that high. For example, Savanna and L&M Development Partners, which in 2012 purchased the Savoy, a 1,802-unit complex...
...sale of One Court Square, the Citigroup building. Savanna, a real estate private equity firm, reached an agreement to buy a controlling interest...
...Twitter committed to more than 140,000 square feet at Savanna’s 245-249 West 17th Street, located between Seventh and Eighth avenues. The social networking...
...deal,’ ” said Newmark’s Roseman, who represented landlord Savanna. “There was none of the usual grandstanding.” Roseman declined to disclose the taking rent...
...Square from institutional real estate private equity firm Savanna, while the investment advisory firm Emmes Asset Management agreed to pay $154 million for Melohn...
...Just two years ago, real estate investment company Savanna owned the building and was charging rent rates in the mid-$40s range, data...
...is too high for the market.
Sellers: Savanna and Monday Properties
Address: 386 Park Avenue South
Total profit: $39.4 million
Annual return on equity...
...feet in two adjacent buildings that investment firm Savanna acquired in November at 245-249 West 17th Street.
Also, as TRD reported last month...
...s little-known Rainbow Estates Group in Brooklyn and Savanna Partners in Midtown, which have also been on a tear, acquiring properties in Manhattan...
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