Dallas-based Invesco Real Estate has been brought on as a new partner invested in 230 Park Ave. in New York, the tower above Manhattan's Grand Central Terminal. Monday Properties recapitalizes the landmark Manhattan office tower, buying out a Goldman Sachs Group Inc. real estate fund, according to a Bloomberg report. Monday Properties and a Goldman fund venture purchased the 34-story building in 2007 for $1.15 billion.
The deal "commences this new chapter for 230 Park Ave.," said Monday's CEO Anthony Westreich in the statement, calling the 34-story tower "a unique landmark environment." Terms of the transaction with Invesco's Dallas-based real estate unit were not disclosed. As part of that deal, Goldman is exiting the building, according to Brian Robin, a vice president at Monday Properties. Monday Properties will continue to manage 230 Park Avenue where major tenants include ING, Simon Property Group, Tokio Marine Management and Houston & Rosen P.C.
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