CHINAEUROPE AFRICAASIA 中文双语Français
Business\Companies

HNA in $2.21 billion deal to buy NYC office tower

Updated: 2017-03-22 07:18

HNA in $2.21 billion deal to buy NYC office tower

People look at the Manhattan skyline from the One World Trade Center tower in New York. HNA Group Co is reported to be acquiring a 158,000-square-meter office tower in central Manhattan. [Photo/Agencies]

NEW YORK-Chinese conglomerate HNA Group Co is leading a deal to acquire Manhattan's 245 Park Avenue for $2.21 billion, one of the highest prices ever paid for a New York skyscraper, two people with knowledge of the negotiations said.

HNA may be involved with at least one partner on the purchase, said the people, who asked not to be named. The 158,000-square-meter office tower, with tenants including JPMorgan Chase & Co, is being sold by Brookfield Property Partners LP and its 49 percent partner in the property-the New York State Teachers' Retirement System.

The deal, should it be completed, would bring Chinese ownership to the heart of midtown Manhattan's financial core: the towers located just north of Grand Central Terminal along Park Avenue. JPMorgan's principal executive office is at 270 Park, diagonally across East 47th Street from 245 Park.

Clement Wei, a spokesman for HNA, did not reply to an email.

HNA has made a string of acquisitions lately, totaling more than $30 billion since last year, according to data compiled by Bloomberg. Its targets have included hotel operator Hilton Worldwide Holdings Inc, technology firm Ingram Micro Inc, asset manager SkyBridge Capital and earlier this month the company that runs Caijing magazine's website

BLOOMBERG

BACK TO THE TOP
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US