The WK Law Firm supported Client in acquiring 1180 AOA office building in Midtown Manhattan, assisted in financing and refinancing

The WK Law Firm successfully represented HNA Group in the sale of the Midtown office building it owned with MHP Real Estate Partners at 1180 Sixth Avenue for $305 million. Northwood Investor, an investment firm, picked up the 22-story, 384,000-square-foot property from HNA Group. Ms. Annie Kao, the partner of WK Law firm, represented HNA Group at closing. The buyer is an investment firm set up in 2006 by John Kukral who used to be the CEO of Blackstone Real Estate Advisors. Its aggregate investment in real estate and other relevant industries worldwide has reached $7 billion as of January 1, 2018.

In 2011, HNA paid $259 million for a 90 percent stake in the property, buying out Carlyle. MHP Real Estate Services acquired 10 percent stake and transferred all its interest to HNA thereafter. It is the first property owned by HNA in US.

The property, built in 1963, is a 22-story class A office building located in the junction of 46th streets and Avenue of Americas, Midtown, Manhattan, next to Times Square and Rockefeller Center.

This is another remarkable transaction HNA Group has closed with the support of the WK Law Firm after the successful acquisition of 1180 Avenue of Americas, 850 Third Avenue, 123 Mission Street, City Center, 181 West Madison and 245 Park Avenue.

With an annual transaction amount exceeding $10 billion US dollars, the WK Law Firm is specialized in cross-border M&A, financing, real property transactions, corporate operation, capital markets operation, international trade and commercial litigation. The WK team is devoted in offering support to Chinese entities stepping into the global market and endeavoring to set up a new milestone for the development of Chinese entities.