CGI acquires Manhattan Mall New York

For its new fund hausInvest global, Commerz Grundbezitz Group (CGI) has acquired the Manhattan Mall in New York. The building has a surface of 91,000 m², 53,000 m² of which is a fashion center and 40,000 m² of offices.

The most important tenant is Bank of America. CGI is said to have paid € 340 million to Lehman Brothers, the former owner of the building.

The hausInvest global fund is CGI’s second open-end fund. This year, the German investor intends to gather € 600 to € 800 million to invest in real estate in North America (50%), Asia/Pacific (20%) and Europe (30%). HausInvest global will have a mixed real estate portfolio, focusing on logistic real estate in Central-Europe.

Source: Vastgoedmarkt

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