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New York & Tri-State  + New York  + Finance  | 

Qatar Invests $622M in Empire State Realty Trust

An affiliate of Qatar Investment Authority (QIA) acquired a 9.9% interest in Manhattan-based Empire State Realty Trust Inc. (ESRT) The investment involves a 19.4% ownership of Class A shares valued at $622 million.

Darcy Stacom of CBRE Group introduced QInvest to the ESRT, while Goldman, Sachs & Co. and Eastdil Secured acted as financial advisors. Goodwin Procter, Proskauer Rose, and Clifford Chance U.S. acted as legal counsel for the REIT. QInvest acted as financial advisor, and White & Case acted as legal counsel for QIA.

Said REIT CEO David A. Karp, “With the recent expansion of the Company’s unsecured revolving credit facility to $1.1 billion, and now this addition of QIA’s equity investment, our ability to drive long-term value for all ESRT shareholders is further enhanced.”

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Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.

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