Representative Transactions

Photo of Grand Central Terminal

Grand Central Terminal  New York, NY

Argent acquired this 1.3 million square foot iconic property net leased to The Metropolitan Transit Authority of the State of New York (MTA). As part of the deal, Argent also acquired approximately 1.3 million square feet of transferable development rights and the land under 140 miles of railroad tracks.


Photo of Capitol Records Building

Capitol Records Building  Hollywood, CA

Argent acquired this 105,000 square foot landmark office building and recording studio located at Hollywood and Vine in a sale leaseback with EMI. The property is the centerpiece of a new, 1.2 million square foot mixed-use development Argent is planning with its joint venture partner, Millennium Partners.


 

150 Riverside Drive  New York, NY

Argent and its joint venture partners acquired this 520 bed nursing facility in 2013. Working with its operating partners Argent is focused on enhancing operating and financial performance by improving the asset to provide higher quality rehab and nursing services to residents.


Partially-Realized


Photo of ALTA/Park City Coop/Condo Apartment Portfolio

ALTA/Park City Coop/Condo Apartment Portfolio  New York, NY

Argent acquired 1,000 rent-regulated and unregulated cooperative and condominium apartments located throughout Manhattan, Brooklyn and Queens. More than 400 units have been sold to date with gross proceeds in excess of $75 million.


 

Landmark at Eastview  Tarrytown, NY

Argent acquired this 800,000 square foot office/lab campus that included one of the largest development sites in Westchester County from the foreclosing lender and then leased up the existing property and sold it to BioMed Realty Trust in 2004. Argent sold a retail development site to Home Depot in 2006, and is now entitling the remaining big box retail sites with its joint venture partner, LCOR Incorporated.


Realized


 

Echelon Condominium  New York, NY

Argent acquired the debt secured against this 54 unit condominium development in 2012. After negotiations with the borrower, Argent successfully liquidated its position in 2013.


Photo of Manhattan Mall

Manhattan Mall  New York, NY

Argent acquired the first mortgage on this 1.0 million square foot retail/showroom building and subsequently obtained the fee interest from the Simon family of the Simon Property Group. Argent repositioned the property into primarily Class A office space with ground floor retail through an $80 million redevelopment. The property was sold to Vornado Realty Trust in 2007.


 

Omni Mall  Miami, FL

Argent acquired this shuttered mall to reposition it as a telecommunications data center. When this business plan was no longer viable, Argent successfully repositioned the property to receive City of Miami approvals for a 5.5 million square foot master-planned mixed-use development. After extensive capital improvements, a portion of the property was repositioned into Class A space and leased to educational and office tenants. Argent also conducted a $56 million renovation of the 527-key hotel and reflagged it as a Hilton. The property was sold to Genting Group in 2011.


 

Chrysler Building  New York, NY

Argent acquired the key debt position on this 1.2 million square foot property and then orchestrated the purchase of the fee in a partnership with Tishman Speyer.


 

313 Gold Street  New York, NY

Argent acquired the senior mortgage secured by a 17,000 square foot residential development site in downtown Brooklyn with 250,000 buildable square feet. Argent’s position was successfully liquidated in 2013.


 

166 West 75th Street  New York, NY

Argent acquired the senior mortgage secured by a 207-unit hotel partially occupied by rent stabilized tenants in 2011. Property was subsequently sold.


 

Starrett Corporation  New York, NY

Argent and its partners successfully executed a leveraged buyout of this NYSE-listed public company. Some of its subsidiaries, including HRH Construction and Levitt Homebuilder, were sold and Grenadier Realty Corporation, a manager of more than 27,000 multifamily units in the New York metro area, was retained. Argent has since exited its position.


 

420 rue d’Estienne d’Orves  Paris, France

Argent acquired this former 600,000 square foot industrial building adjacent to the La Defense district in Paris and successfully re-zoned it for office use and then developed it in partnership with HRO International. The property was sold to Gecina Group in 2006 for 349 million Euros.


 

Pfizer Building  New York, NY

Argent acquired this vacant 635,000 square foot property in a partnership with Blackacre Capital Management. The property was subsequently leased and sold to a pension fund.


 

300 Boulevard East  Weehawken, NJ

Argent acquired this 330,000 square foot substantially vacant industrial/office building in 1999 and then conducted a repositioning to upgrade the facility into a 100% occupied, state-of-the-art telecom/data center. The property was sold to Global Innovation Partners/CalPERS in 2002 for $57 million.


Photo of One Park Avenue

One Park Avenue  New York, NY

Argent acquired the senior mortgage on this 66% occupied, 920,000 square foot, Class A office tower and then obtained the fee interest through a workout. After taking title, Argent successfully executed an extensive renovation, released vacant space and sold the building to SL Green in 2001 for $240 million.


 

17 Battery Place  New York, NY

Argent acquired the mortgage on the leasehold of this 1.2 million square foot building and then subsequently consolidated the leasehold and fee interest and sold the property.


Photo of 633 Third Avenue

633 Third Avenue  New York, NY

Argent acquired an 185,000 square foot vacant office condominium unit in this 1.3 million sf Class A office tower and then renovated and parceled the unit and sold to multiple users in 2000-2001.


 

Fort Washington Office Center  Fort Washington, PA

Argent acquired this 400,000 square foot suburban office center that was 65% occupied by a tenant with a near-tem lease expiration and then successfully renewed the lease and sold the property in 2000 to Heitman/CalSTRS for $53 million.