Ivanhoé Cambridge completed the sale of its partnership interest in 388-390 Greenwich Street in Manhattan to SL Green. Terms of the transaction were not disclosed.
388-390 Greenwich is a two-building, 2.6-million-square-foot office property that recently completed a long-term triple net lease renewal to Citigroup.
"This transaction is another step forward in implementing our strategic plan for the U.S. market," said Adam Adamakakis, EVP, investments, United States, Ivanhoé Cambridge. "We look forward to reinvesting this capital into other high-quality properties in major markets as we continue building a national U.S. office platform alongside our strategic partner Callahan Capital Properties."
Ivanhoé Cambridge was co-advised in this transaction by both Eastdil Secured and Callahan Capital Properties, its strategic partner for U.S. office investments.