Allianz SE has acquired a 44% stake in 10 Hudson Yards, the first of the skyscrapers to be finished at Related Cos.’ development on Manhattan’s west side.
Allianz bought Coach’s interest in the property, as well as part of the stake owned by the Kuwait Investment Authority.
A US unit of Allianz paid $420m in cash for the stake, as well as taking on a $1.2bn mortgage in conjunction with other parties.
