Singapore’s Alpha Buys Out Partner’s Stake in NYC Condo Project
Alpha Investment Partners, a Singapore-based company, has reached a deal to buy out it’s partner’s stake, Macklowe Properties, in a condo project in Manhattan’s Upper East Side.
The condo property was jointly managed in a joint venture that started just over three years ago. The private fund management division of Keppel Capital is purchasing Macklowe Properties shareholding of 200 East 59th Street in an undisclosed amount that will make the Singapore firm the sole owner of the property. This comes five years after teaming up with the New York developer and investing US $70 million into the project.
Full article by James Hatton, Mingtiandi: View full article here