SL Green and Mori Building Co., Ltd. Form Joint Venture for New Development at 346 Madison Avenue
SL Green Realty Corp. closed on the sale of a 49% joint venture interest in its 346 Madison Avenue development to Mori Building Co., Ltd. for a gross valuation of $175 million. SL Green retains a 51% controlling interest and will serve as the development and leasing manager for the 850,000-square-foot tower, which is being designed by KPF.
Key figures
- Deal Value Usd
- 175000000
- Slg jv interest
- 51.0%
- Mori jv interest
- 49.0%
- Rentable square feet
- 850000
- Total portfolio sqft
- 30800000
AI analysis
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