RFR Realty LLC today announced a lease expansion with Temasek at 375 Park Avenue – Seagram Building. The Singapore-based global sovereign wealth fund with a portfolio of approximately $197 billion, expanded its lease to approximately 23,000 square feet.Founded in 1974, the company has 11 offices around the world including London; Beijing; Washington, DC; and San Francisco. Brian Goldman of Newmark Knight Frank represented Temasek in the expansion.
Additionally, Brazilian-based law firm Demarest Advogados signed a new 10-year lease for a prebuilt space in the tower of the building. Founded in 1948, Demarest Advogadosis one of the most respected law firms in Brazil and Latin America. The tenant has multiple office locations in Brazil as well as New York City. Aron Schreier and David Mainthowof Cushman & Wakefield acted on behalf of the tenant in the transaction.
Nearwater Capital has also joined the roster of exclusive tenants. Founded by James Peterson, Nearwater Capital is a specialty finance company focused on providing financing to sponsors for Risk Retention. The tenant signed a new lease for part of a tower floor at the property. Kip Orban of JLL represented Nearwater Capital in the transaction.
In each of the transactions, RFR was represented in-house by Mr. Camhi and Ryan Silverman,along with a leasing team from JLL that includes Benjamin Bass, Diana Biasotti, Kristin Morgan and Kip Orban.
“375 Park Avenue continues to attract leading global firms,” said AJ Camhi, director of leasing at RFR Realty. “We are excited to see established tenant Temasekexpandits footprint in our building and welcome, Demarest Advogados and Nearwater Capital.”
About RFR
RFR is a fully integrated real estate investment firm based in New York City with a core focus on select urban markets in the United States and Germany. Founded by Aby Rosen and Michael Fuchs in the early 1990’s, the firm has been an active force in the New York City and German real estate market for much of the past two decades. RFR’s portfolio has grown to include more than 100 properties located in select domestic and international markets. While its property portfolio is anchored in the Manhattan and key German commercial markets, RFR also has significant commercial, residential, hotel, and retail holdings. RFR has a proven track record of adding significant value to the properties it acquires through property-level repositioning and strategic financial engineering. RFR has created an organization with deep experience in all phases of the property life cycle and is positioned to take advantage of market opportunities.
