Sumitomo Life Real Estate Urban Portfolio

Project:

5 Assets, 2.6M RSF in Manhattan, Washington DC, and Atlanta, GA

  • 499 Park Avenue – Manhattan, NY – 28-story, 297,713 sf
  • 425 Lexington Avenue – Manhattan, NY – 31-story, 675,612 sf
  • 600 Lexington Avenue – Manhattan, NY – 36-story, 278,586 sf
  • One Atlantic Center – Midtown, Atlanta, GA – 50-story, 1.1M sf
  • 1200 19th Street – Washington, DC. – 8-story, 236,362 sf

Client:

Sumitomo Life Real Estate – Core Investments

Objective:

Long Term Value Preservation and Maximization of Cash Flow

Outcome:

$1B Portfolio transferred to Hines’ private REIT, harvesting 8.6% in added value to SLR (asset initiatives included plant modernization, contract management and maximizing non-office rent revenues)

Services:

Asset Management | Financial Reporting | Property Management