RXR Realty has completed a recapitalisation of 75 Rockefeller Plaza, partnering with hedge fund Farallon Capital in a transaction which strengthens which maintains the firms’ its focus on income-generating office assets in New York City, according to a report by ConnectCRE.
The transaction underscores continued institutional interest in trophy Manhattan properties, with Farallon providing strategic equity alongside RXR’s existing ownership. Details of the investment and terms of the recapitalisation have not been disclosed.
The transaction highlights a broader trend of hedge funds and alternative investors increasing allocations to stabilised, trophy office properties, seeking predictable cash flows and potential upside from operational or leasing improvements.
