- 25.10.2012, 16:24:00
- /
- OTE0006
Quantum Global and Lasalle Investment Management target New York with second acquisition
Joint Venture Plaza acquires 49.5% stake in Fifth Avenue office block
Utl.: Joint Venture Plaza acquires 49.5% stake in Fifth Avenue
office block=
Zug, Switzerland / London, GB (OTS) - Quantum Global Real Estate
("Quantum Global") und LaSalle Investment Management ("LaSalle")
announce that Plaza Global Real Estate Partners ("Plaza"), their
joint venture, has contracted to purchase a 49.5% interest in 521
Fifth Avenue from SL Green Realty Corp. (NYSE: SLG) ("SL Green").
This is the second acquisition Plaza has made since it was formed
earlier in the year to invest in large real estate assets around the
globe. With leverage, Plaza has USD 1 billion gross of initial buying
power and targets quality long-term investments in excess of $100
million located in the world's premier real estate markets.
521 Fifth Avenue is a prestigious office building with retail
accommodation on ground and first floors, located on the northeast
corner of Fifth Avenue and East 43rd Street in New York. This comes
just months after Plaza made its first acquisition 23 Savile Row in
Mayfair, one of the best prime office buildings in the West End of
London.
Antoine Castro, Managing Director at Quantum Global Real Estate,
said: "This reinforces Plaza's commitment to buying core properties
in leading locations. It also underlines our strategy to acquire
value-preserving premium assets. We are enthusiastic about partnering
with New York's premier office landlord in this iconic property".
Simon Marrison, Europe CEO, LaSalle Investment Management, said:
"521 Fifth Avenue is the perfect example of a long-term quality
investment in a major market and meets the expectations for our
portfolio. We are extremely pleased to be partnering with SL Green in
the ownership of this property going forward."
Andrew Mathias, President of SL Green, commented: 'We are excited
to be joining forces with LaSalle Investment Management and Quantum
Global for the first time and we look forward to continuing our
successful track record of building value for our joint venture
partners. This investment highlights Manhattan's extraordinary
appeal to leading institutional investors."
About Plaza Global Real Estate Partners
Plaza Global Real Estate Partners is targeting predominantly core
real estate assets: quality long-term investments in excess of $100
million located in major mature real estate markets around the world.
Initial focus is expected to be on Australia, France, Germany, the
United Kingdom and the United States. The venture will seek to make
investments on its own and also as part of club arrangements with
like-minded institutional investors.
The multi-disciplinary team is being led by experienced industry
veterans, including Quantum Global owner Jean-Claude Bastos de Morais
and LaSalle's global CEO Jeff Jacobson, working with senior members
of the Quantum Global team and Simon Marrison, Head and Chief
Investment Officer of LaSalle's European private equity business, who
will lead LaSalle's initiative in the venture.
About Quantum Global
Quantum Global is a group of internationally active companies in
the fields of finance, asset and private wealth management, real
estate development and investment consulting with over $8 billion of
assets under management. Quantum Global Real Estate and Quantum
Global Investment Management are focused on investment and asset
management for central banks and sovereign wealth funds, whereas
Quantum Global Private Wealth provides asset management services for
high-net-worth individuals. Quantum Global Corporate Services
provides advisory in the fields of finance, legal matters, marketing
& communication and human resources. For more information, visit
www.quantumglobal.ch.
About LaSalle Investment Management
LaSalle Investment Management, Inc., a member of the Jones Lang
LaSalle group (NYSE: JLL), is a leading global real estate investment
manager, with approximately $47billion of assets under management of
private and public property equity investments. LaSalle is active
across a range of real estate capital and operating markets including
private and public, debt and equity and our clients include public
and private pension funds, insurance companies, governments,
endowments and private individuals from across the globe. For more
information, visit www.lasalle.com.
About SL Green
SL Green Realty Corp., New York City's largest office landlord, is
the only fully integrated real estate investment trust, or REIT, that
is focused primarily on acquiring, managing and maximizing value of
Manhattan commercial properties. As of September 30, 2012, SL Green
owned interests in 77 Manhattan properties totaling 39.3 million
square feet. This included ownership interests in 27.5 million square
feet of commercial properties and debt and preferred equity
investments secured by 11.8 million square feet of properties. In
addition to its Manhattan investments, SL Green holds ownership
interests in 31 suburban assets totaling 5.4 million square feet in
Brooklyn, Long Island, Westchester County, Connecticut and New
Jersey, along with four development properties in the suburbs
encompassing approximately 0.5 million square feet. The Company also
has ownership interests in 31 properties totaling 4.5 million square
feet in southern California.
ORIGINAL APA-OTS TEXT - THE INFORMATION CONTAINED IN THIS PRESS RELEASE IS SUBJECT TO THE EXCLUSIVE RESPONSIBILITY OF THE ISSUER | NCH