New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Savanna Closes on Deal for 5 Bryant Park
Savanna has acquired the 34-story 5 Bryant Park office tower from an affiliate of Blackstone. Deal terms were not disclosed, but published reports said Savanna paid $640 million to buy the 682,988-square-foot property from Blackstone, its owner since taking over Trizec Properties in 2006.
“Through our ownership of several buildings in the area, Savanna has witnessed the Bryant Park neighborhood transform into one of the most desirable office locations in New York,” said Savanna’s Cooper Kramer. “The area is being targeted by virtually every type of industry.”
Savanna has retained CBRE as exclusive leasing agent for 5 BP, with Paul Amrich, Neil King and Patrice Meagher leading the agency team. A joint team of JLL and HFF, led by Kelly Gaines and Aaron Niedermayer at JLL, represented Savanna in the financing of the acquisition.
Laurie Grasso at Hunton Andrews Kurth represented Savanna as legal counsel.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
