Firm: Square Mile Capital Management LLC
Fund: Square Mile Partners II LP
Amount Raised: $561 million
Placement Agent: Park Hill Real Estate Group LLC
Legal Advisor: Simpson Thacher & Bartlett LLP
The Greenwich, Conn.-based firm sources and manages investemnts in real estate and related equity, debt and hybrid investments. It began deploying capital from the
Square Mile Capital and Taconic Investment Partners are acquiring from Verizon an interest in a commercial condominium consisting of 930,000 square feet of space in the 32-story office building at 375 Pearl St. in Manhattan. Plans call for an extensive renovation to convert the building into a modern, multi-tenant structure. The deal is expected to close in December, according to Real Estate Weekly.
Partnering with Tribeca Associates, the firm last month struck a deal to turn a small warehouse north of Hudson Square in Manhattan into a 22-story office building and hotel. The $220 million building is slated to feature upscale retail shops on the street level, 10 floors of office space and a 171-room luxury hotel, The New York Times reported. —J.P.