PIMCO acquires Columbia Property Trust with 7 Manhattan assets valued at $1.4B

PIMCO through the entity Lvs III Holding LP bought Columbia Property Trust and through that purchase seven Manhattan assets valued at $1.44 billion including the office building (O9) at 315 Park Avenue South in the Flatiron District, the office condo at 229 West 43rd Street in Times Square, and the office building (O3) at 250 Church Street in Tribeca, Manhattan.
The deal closed on December 8, 2021 and was recorded on December 29, 2021.
The seven properties have 1,417,073 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $1,016 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.) All other four properties are 799 Broadway, 147 Madison Avenue, 249 West 17th Street and 245 West 17th Street

This is PIMCO’s acquisition of Columbia Property Trust. Columbia owned 15 office buildings in New York City, Boston, San Francisco and Washington, D.C.

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