Mayer Brown represents Allianz on acquisition of stake in Manhattan tower
5 August 2016
Mayer Brown announced today that it represented Allianz SE on its acquisition of a 44 percent stake in the 10 Hudson Yards tower in New York. The valuation of the property has been reported to be $2.15 billion. In connection with Allianz’s investment, the investor group obtained a $1.2 billion mortgage. The deal marks one of New York’s largest real estate transactions in 2016.
The Mayer Brown team was led by Chicago-based Real Estate partner Paul Meyer and included: Real Estate partners Heather Adkerson, Patrick McNerney and John Huff (all Chicago), counsels Stephen MacDonald (New York) and Michelle Dohra (Chicago), and associate Jonathan Baker (Chicago); Tax Transactions & Consulting partner Anne Marie Konopack and associate Kathleen Philippart (both Chicago); and Corporate & Securities counsel Dennis Quinn (Chicago).