London-based real estate investment firm TH Real Estate, a unit of U.S. peer Nuveen LLC, and U.S. investment firm Taconic Investment Partners, have acquired 440 Ninth Avenue on the Far West Side, Manhattan for $269 million.
The property was acquired from Japanese real estate company Unizo Holdings as part of the disposing of its Manhattan portfolio valued at over $1 billion.
Taconic Investment and TH Real Estate intend to upgrade the lobby, elevator and mechanical systems at the 18-story, 411,000-square-foot building.
U.S. investment firm MetLife Real Estate Investors funded the transaction with a $137 million mortgage.