Metlife provided financing to close the deal
Clarion Partners has acquired 114 West 41st Street from Blackstone’s EQ Office for $282 million, according toCO. The office and retail building spans 349,274 SF, and is located between Broadway and Avenue of the Americas. It’s currently 91 percent leased to 13 office tenants, including SpotCo, Roku and Kensington Publishing.
Acquisition financing: Clarion secured a $141 million loan MetLife to close on the deal.
Flashback: EQ Office paid $165.7 million for the property in 2014. The Blackstone subsidiary has spent $30 million in capital improvements in recent years. Job well done!