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American Realty Capital New York City REIT Strikes Deal to Acquire 123 William St

American Realty Capital New York City REIT (NYCR) announced the $253M deal today. 123 William St (above) is an institutional-quality office with about 545k SF of rentable space. The building is about 81% full, with tenants like the State of New York, the City of New York and the federal government. CEO Michael Happel is thrilled with the deal, citing a substantial renovation and increased demand for office space in Downtown Manhattan, especially as transportation improves. The plan is to raise rents to market value as renewals roll around.

 

WASHINGTON DC 10.19.2017

THE FAIRFAX COUNTY STATE OF THE MARKET

Development Pipeline and Current Projects

Katherine Bonnafé
Combined Properties
Greg Trimmer
JBG SMITH
Alex Nyhan
First Washington Realty
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