Singapore Wealth Fund Buys Wall Street Tower


GIC Pte, Singapore’s sovereign wealth fund, bought a 95 percent stake in 60 Wall St., a 47-story tower in lower Manhattan that serves as the U.S. headquarters of Deutsche Bank AG.

The deal values the 1.6 million-square-foot (148,600-square-meter) skyscraper at $1.04 billion, or about $640 a square foot, GIC and seller Paramount Group Inc. said in a joint statement. Paramount, a New York-based real estate investment trust, will retain a 5 percent stake and continue to manage the property. In connection with the deal, the joint venture completed a $575 million financing of the tower…

Singapore Wealth Fund Buys Wall Street Tower

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