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$450 Million Joint Venture to Acquire Fee Interest in the "Lipstick Building"

Affiliates of Ceruzzi Holdings

Represent affiliates of Ceruzzi Holdings and Shanghai Municipal Investment in a joint venture to acquire fee interest in 885 Third Avenue (the “Lipstick Building”). The transaction was a $450 million +- complex debt and equity structure and involved advice relating to unique ground lease and fee issues as well as multi-tier entity ownership structure.

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