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Katten Represents Ivanhoe Cambridge and Callahan Capital Properties in $2.2 Billion Office Building Acquisition

Firm News | January 16, 2015

Katten represented Ivanhoe Cambridge and Callahan Capital Properties in the acquisition of 1095 Avenue of the Americas in midtown Manhattan, also known as Three Bryant Park. The real estate private equity firm reached a deal with Blackstone Group LP to purchase the 1.2 million square-foot office tower for $2.2 billion. The deal marks the second most expensive sale of an office building in US history, following the $2.8 billion sale of the General Motors building in Manhattan in 2008. In connection with the closing, the Katten team also closed a debt financing in the amount of $1.35 billion. David Bryant, the national head of Katten's Real Estate practice, led the team, which included Real Estate partners Scott Vetri, Mark Simon, Ira Swidler, Kenneth Jacobson, Michael McBride and John Muir; counsel Andrew Wu; and associates Jonathan Boswell, Brett Kifferstein, Patrick Filice and Scott Hovanyetz. Employee Benefits and Executive Compensation partner Daniel Lange and Employment Law and Litigation special counsel Nineveh Alkhas also contributed to the team. ("Canada's Ivanhoé Buys Manhattan Office Tower for $2.2 Billion," January 16, 2015)

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