CBRE Israel signs $45m. deal for New York firm

The investment will be made by Paramount and the Phoenix Insurance Company.

Real estate market (photo credit: Courtesy)
Real estate market
(photo credit: Courtesy)
 CBRE Israel, with CBRE USA, signed a $45 million financing deal for US real estate investment trust company Paramount Group Inc., for the renovation and construction of two floors of the Tribeca Film Center in Manhattan.
Yaron Shachar, director of investments at CBRE Israel, said that in Phase 2, CBRE will invest another $150m. in investments in office buildings in New York, Washington and San Francisco.
The deal was led by Shachar and Amir Livneh from CBRE Israel, and James Scott and Ahmad Imran from CBRE USA.
The investment will be made by Paramount and the Phoenix Insurance Company.
CBRE’s banking investment arm has made investments in 169 income-producing real estate projects in the United States since 2015 worth more than $21 billion.