The Hines Interests Limited Partnership announced this week that it has sold Manhattan office buildings at 425 Lexington Avenue and 499 Park Avenue to JPMorgan Asset Management and American Realty Advisors, respectively, for a combined total of more than $1 billion, according to sibling publication GlobeSt.
Proskauer Rose and Baker Botts are taking the lead advising Hines, a Houston-based commercial real estate firm that Reuters reports will receive roughly $700 million from the sale of 425 Lexington and $390 million from the sale of 499 Park.
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