Wednesday, January 2, 2013

RFR Acquires Y&R Headquarters At 285 Madison

National Commercial Real Estate News From CoStar Group

RFR Acquires Y&R Headquarters At 285 Madison

RFR Holding, in partnership with an undisclosed real estate investment fund, has acquired the property known as 285 Madison Avenue, a 26-story office building in Midtown Manhattan’s Grand Central district.

Advertising and communications agency Young & Rubicam, which is relocating, sold the 1929-vintage property for a reported $189 million. RFR, a privately held Manhattan-based owner and developer, will invest $50 million in a full repositioning...

Mission West Completes $1.3 Billion Portfolio Disposition

Mission West Properties, Inc. has completed its previously announced agreements to sell all of its real estate assets for about $1.3 billion.

The Cupertino, CA-based company sold certain assets to a joint venture sponsored by affiliates of Divco West and TPG Real Estate for about $400 million in cash and $398 million in assumed mortgage debts and other obligations.

Additionally, Mission West completed a separate transaction in which certain...

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