Monday, July 11, 2011

Buying, Holding Pays Off

Buying during the recession may seem like a daunting prospect but for one group of investors who purchased the Worldwide Plaza office in 2009 it was a risk worth taking. The deal, for an office building which had forty six percent occupancy cost them $600 million but now the skyscraper has an estimated value of $1.1 billion. This has been helped by a huge deal with Nomura Holding’s American arm now renting nine hundred thousand square feet of office space helping boost occupancy to ninety six percent.

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