Allianz closes on acquisition at New York's 30 Hudson Yards
Tuesday, 06 18 2019, Category: Insurance and Reinsurance, Country: United States
Allianz SE said on Friday it closed its acquisition of a stake in New York’s second-tallest office tower for 342 million euro ($384 million) and an undisclosed amount of debt, increasing its footprint in the city’s fashionable Hudson Yards.
Allianz said in a statement it acquired a 49% equity interest in 26 floors at 30 Hudson Yards previously owned by AT&T’s WarnerMedia. The $2.2 billion sale to Related Cos and an investor who was not named was announced in April.
The deal’s closing makes New York the fifth most significant city for Allianz’s real estate portfolio, the German insurer said.
In 2016, Allianz bought a 44% interest at nearby 10 Hudson Yards from retailer Coach, now called Tapestry Inc.