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Saturday, July 30, 2005

Bahrain's Investcorp Sells Office Complex in New York for $84 Million

Huntington, New York-AEW Capital Management LP has acquired (on July 26th) Three Huntington Quadrangle, a two-building, 401,581-sf class A office complex in Long Island for $84 million, a source close to the transaction told GlobeSt. The sellers were Investcorp (HQ in Bahrain), a global investment group whose real estate team is based in New York, and Broadway Real Estate Partners, who are also located in New York.



The Metropolitan Area Capital Markets Group of Cushman & Wakefield, led by Andrew Merin, represented Investcorp and Broadway. Broadway Partners initially acquired the office, which is situated on 22.2 acres, in 2003. It was part of a three-asset Long Island portfolio which totals approximately one million sf. In 2004, Investcorp purchased a 50% equity stake. This marks the first sale of some of these properties. Read More ....




Source: GlobeSt & Forbes | reBlogged By: News Blog re-Blog
Filed Under: New York, US, Bahrain, Real Estate | Permalink



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