Starwood Buys Iconic Midtown Tower
A JV led by Greenwich-based Starwood Capital Group has purchased One Atlantic Center. Through its Starwood Global Opportunity Fund X and Core Property Capital, it bought the 50-story, 1.1M SF office tower from Hines Interests for an undisclosed sum. This is the same JV that bought Tower Place last year.
Hines bought the tower for $305M 10 years ago. Formerly known as IBM Tower, the skyscraper has recently undergone renovations, which added a fitness center and a conference center. Equifax signed for 100k SF in April, and the building hit the market soon after.