Mad Mark Walter is at it again, as Guggenheim Partners finalized a deal to acquire Dick Clark Productions, or DCP, for $370 million, well beyond what other bidders were apparently willing to pay.
Mr. Walter, chief executive officer of the privately-owned financial firm, led a group that paid $2 billion for the Los Angeles Dodgers this spring, a price that was reportedly hundreds of millions of dollars more than the best offers at which rival groups were able to arrive.
The Los Angeles Dodgers are worth $1.4 billion, according to Forbes, which went live yesterday with its annual list of the world’s most valuable sports teams. At which value, we’d like to remind you, the club is worth $600 million less than a group led by Guggenheim Partners’ CEO Mark Walter and L.A. Read More
New York landlord Charles Cohen says he’s not concerned about opening vacancies in his portfolio.
In the past year, two large tenants relocated from buildings Mr. Cohen owns.
The Lease Beat
Guggenheim Partners, an investment firm that grew from administering the vast private wealth of the Guggenheim family in the early 1900s to a multifaceted financial firm, has signed a large lease at 330 Madison Avenue for its New York headquarters, sources revealed.
The deal comes one month after The Commercial Observer first reported that Guggenheim was looking to take space at the building in November.
The Lease Beat
Limited Brands Inc., an apparel company that owns several major retailers including Victoria’s Secret and Bath and Body Works, has reached a deal to add nearly 100,000 square feet of space at 1740 Broadway, a building owned by Vornado.
Limited Brands will take floors 14 through 17 in the expansion and will now occupy about 500,000 square feet in the roughly 700,000 square foot property. The company, formerly known as The Limited, is represented by a team from the real estate services firm CBRE, led by CBRE’s New York area Chief Executive Mary Ann Tighe and executives Eric Deutsch and Ken Meyerson.
Guggenheim Partners is looking to bring its New York headquarters to 330 Madison Avenue, sources told The Commercial Observer this afternoon.
The investment and financial services firm would take several floors in the base of the Vornado Realty-owned tower. Estimates vary how much space Guggenheim could fill in the building, but several people with knowledge of the firm’s requirements pinned the potential deal at 220,000 square feet or larger.