Fosterlane Management has acquired the 750 Seventh Avenue in Manhattan, GlobeSt reports. The Atlanta-based institutional real estate investment arm of the Kuwait Investment Authority paid $485 million to Hines for the former Morgan Stanley hub.
CB Richard Ellis vice chairmen, Darcy Stacom and William Shanahan represented Hines in marketing the property. Hines and Fosterlane have previously partnered on a development portfolio that included 31 W 52nd St. and the Lipstick Building.
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