TH, Taconic JV Takes Manhattan Tower for $269M

TH Real Estate and Taconic Investment Partners acquired 440 Ninth Ave. in Manhattan from Unizo Holdings Inc. for $269 million. The 411,000-square-foot office building is located between 34th and 35th streets.

TH Real Estate’s Nadir Settles, Senior Regional Head, New York Office Investments, says, “This acquisition not only places us in the heart of the action, but also further solidifies our long-standing relationship with Taconic Investment Partners which shares our vision to maximize investment returns and reimagine NYC’s office towers.”

HFF represented the venture in a deal that works out to roughly $655-per-square-foot. CBRE advised the seller, and arranged a $137-million mortgage through MetLife Real Estate Investors for the acquisition. TH Real Estate is an affiliate of Nuveen, the investment management arm of TIAA. Taconic is a New York-based investor and developer.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

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TH, Taconic JV Takes Manhattan Tower for $269M

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TH, Taconic JV Takes Manhattan Tower for $269M

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About Dennis Kaiser