Blackstone Group LP has reached a deal to sell a Manhattan office tower for about $2.25 billion to a venture led by Canadian property investor Ivanhoe Cambridge, the Wall Street Journal reported, citing people familiar with the terms of the sale.
The deal for the 1095 Avenue of the Americas building, if completed, would represent the second most expensive sale of an individual office building in U.S. history, the Journal reported. (on.wsj.com/11eMwF6)
Ivanhoe, the real-estate arm of public pension fund Caisse de Dépôt et Placement du Québec, has been active in recent years, buying towers in Seattle and New York, the report added.
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