The WK Law Firm supported Client in the acquisition of 850 Third Avenue in Midtown Manhattan for over $500 million and in the closing of syndicated loan

​On March 31, 2016, the WK Law Firm supports HNA Group to acquire 850 Third Avenue in Midtown Manhattan for $ 463 Million from Shorenstein, a real estate company, through Leveraged Buyout. This project was jointly acquired by MHP and HNA Group while MHP, as managing partner and HNA Group, as a major partner.

The total credit amount is $ 228,000,000 which contains $ 210,000,000 acquisition loan from Morgan Stanley, $17,700,000 construction loan and $ 465,000 project loan.

850 Third Avenue is a 614,000 square-foot, 21 stories, Class A office building located in Midtown Manhattan between 51 street and 52 street. Discovery Communications is the largest tenant.

This deal is another successful acquisition we provided legal advice for HNA Group following 1180 Avenue of Americas and four-star Cassa Hotel. In addition, HNA Group North American headquarters will settle in there.

Wu & Kao plays a leading role in the U.S. and China legal fields. We specialize in Capital Markets, Cross Border Investment, Real Estate, Corporation, IP, Media Law, International Trade and Litigation etc. We are familiar with Eastern and Western business culture and values. Our goal is to support enterprises to establish a new milestone.