Macklowes Drop $7 Billion for Eight Buildings

Whew, done already? Macklowe Properties has closed on eight EOP buildings for $7 billion. Harry Macklowe swept in and bought the buildings from Blackstone. The only building not included? 1095 Avenue of the Americas. Release after the jump. - John Koblin MACKLOWE PROPERTIES BUYS EIGHT MANHATTAN OFFICE BUILDINGS FROM EOP COMPRISING 6.5 MILLION SF OF SPACE New York, NY - February 9, 2007 . . . Macklowe Properties has announced the acquisition of eight Class A Manhattan office buildings from Equity Office Properties for $7 billion. The buildings in this record setting transaction include: 717 Fifth Avenue, Worldwide Plaza, 1301 Avenue of the Americas, Park Avenue Tower, 527 Madison Avenue, 1540 Broadway, 850 Third Avenue and Tower 56 and comprise approximately 6.5 million square feet. Harry Macklowe, Chairman of Macklowe Properties said, "The acquisition of these buildings is a synergistic compliment to our existing portfolio and is consistent with our long term objectives." "The addition of these assets to our current holdings will allow us to expand our brand and core strategy of creating long term asset value," said William Macklowe, President. Financing was provided by Deutsche Bank and Fortress Investment Group, as arranged by Robert Horowitz of Cooper Horowitz. Roy March of Eastdil Secured represented the seller.