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December 3, 2012
08:16 EDTSLGSL Green Realty to receive $34.3M net proceeds in sale of London office asset
SL Green Realty and its partner Westcore Properties announced the sale of the Jersey Property Unit Trust that owns a long-term leasehold interest in Procession House, a Class A office building located in London. The sale to a UK based property company for $100M closed on November 22. SL Green will receive approximately $34.3M in net proceeds from the completed transaction and realize an internal rate of return in excess of 20% on its investment. SL Green and Westcore acquired the property’s mortgage in September 2010. When the mortgage defaulted in June 2012, Green Loan Services LLC exercised remedies and put the property into receivership.
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September 16, 2014
08:06 EDTSLGSL Green Realty, Moinian JV sells office tower
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08:06 EDTSLGSL Green Realty to acquire commercial condominium units in Manhattan for $275M
SL Green Realty Corp. announced that it has entered into an agreement to acquire commercial condominium units in the newly constructed Midtown Manhattan class-A office property located at 55 West 46th Street for $275M. SL Green will acquire 319,000 square feet consisting of vacant office space on floors 22 – 34, a retail store on 46th street and the building’s parking garage and fitness center. As part of the agreement, the seller has the option to include the 2nd floor in the transaction, which consists of 28,000 square feet, for an additional purchase price of $20M. The transaction, which is subject to customary closing conditions, is expected to be completed before the end of 2014.

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