SL Green Realty Corp. has closed on the sale of a 5% interest in One Vanderbilt Ave. to Mori Building Co., Ltd, Japan’s leading urban landscape developer. The sale follows Mori’s acquisition of an 11.0% interest in the trophy Midtown Manhattan office tower in November 2024.
Both investments were completed at a gross valuation of $4.7 billion. After completion of the transaction, SL Green maintains a 55% stake in One Vanderbilt Ave., a 1.7-million-square-foot office tower that is now fully leased.
“We are honored that Mori Building Company has chosen to expand its stake in the One Vanderbilt Avenue investment,” said Marc Holliday, chairman and CEO of SL Green. “Their decision is a strong endorsement of the tower’s unmatched quality and enduring value. Mori Building Company shares our commitment to investing in iconic global properties, and we are grateful for their confidence in both the asset and our stewardship.”
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