Blackstone Group will purchase the loan on an office building in Manhattan, New York, for about $100 million, The Real Deal New York reports. Germany’s Landesbank Baden-Wuerttemberg has sold the non-performing note.
Real estate advisor, Holliday Fenoglio Fowler, was marketing the note. The building was acquired by Stellar Management and Rockpoint Group from SL Green Realty for $97.5 million in 2006.
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