Allianz Real Estate Buys Stake in NYC's 30 Hudson Yards
14 June 2019 - 09:08PM
Dow Jones News
By Stephen Nakrosis
Allianz Real Estate on Friday said it took a 49% stake in an
office condominium at New York City's 30 Hudson Yards office
building.
The stake is valued at $348 million, the company said.
Allianz Real Estate is the captive investment and asset manager
for real estate within Allianz Group, it said.
The acquisition was completed on behalf of several Allianz group
insurance companies, and follows the purchase of a 44% stake in 10
Hudson Yards in 2016 for $420 million, the company said.
Allianz said it entered a sale-leaseback deal as part of a
consortium with "Related companies and a third-party investor, who
have acquired the remainder of the office condominium."
--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
June 14, 2019 15:53 ET (19:53 GMT)
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