Real Estate
Japan’s Unizo is behind NYC office purchase as the country’s interest in city property continues. : TH Real Estate and Australia’s sovereign wealth fund have sold a New York City office to Japan’s Unizo Holdings for $467.5m (€395m). TH Real Estate acquired the 31-storey 685 Third Avenue office, which was virtually vacant, as a value-add investment in July 2010 from Pfizer for $190m. Australia’s sovereign wealth fund, Future Fund, acquired a 49.99% interest in the property at the same time.