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The transaction appear today is believed to be the largest-ever New York City appointment charter added than a few sale-leaseback arrangements.
This almanac breaking charter follows appropriate on the heels of a afresh bankrupt $775 actor aboriginal mortgage refinancing by Bank of China. The costs is for a appellation of seven years and replaces the antecedent $447 actor financing. Excess gain will be acclimated to armamentarium this transaction and for accepted accumulated purposes.
Philippe Dauman, President and Chief Executive Officer of Viacom, said, “New York City is the acknowledged media basic of the world, and a active antecedent of afflatus for Viacom’s avant-garde and artistic employees. We accept had a abundant affiliation with SL Green and accept been appreciative to advice advance the awakening of the Times Aboveboard adjacency for two decades. We could not be added admiring to extend our charge to New York City and Times Aboveboard able-bodied into the future.”
Acquired by SL Green in the aboriginal above absolute acreage transaction the bosom of the bazaar abatement in 2002, the architecture has gone through a complete make-over which has included the abounding re-positioning of all retail space, a absolute redevelopment affairs and acquirement accessory with advanced LED announcement signage. In accession to actuality anchored by Viacom, 1515 Broadway is additionally home to the Minskoff Theater, one of the city’s better alive achievement theaters and Best Buy Theater, which is the city’s arch bedrock concert area calm with added civic retailers such as Billabong, Aeropostale and Oakley.
Michael Laginestra, Scott Gottlieb, Andrew Sussman and Ramneek Rikhy from CBRE Group, Inc., Chris Smith and Gina Love from Shearman & Sterling LLP and a aggregation of centralized professionals represented Viacom in the transaction. SL Green handled this almanac ambience charter with its aggregation of centralized professionals calm with Noah Shapiro and Russ Rabinovich from Haynes and Boone, LLP.
Viacom is home to the world’s arch ball brands that affix with audiences through acute agreeable beyond television, motion picture, online and adaptable platforms in over 160 countries and territories. With media networks extensive about 700 actor all-around subscribers, Viacom’s arch brands accommodate MTV, VH1, CMT, Logo, BET, CENTRIC, Nickelodeon, Nick Jr., TeenNick, Nicktoons, Nick at Nite, COMEDY CENTRAL, TV Land, SPIKE, Tr3s, Paramount Channel and VIVA. Paramount Pictures, adulatory its 100th year in 2012 and architect of abounding of the best admired motion pictures, continues today as a above all-around ambassador and benefactor of filmed entertainment. Viacom operates a ample portfolio of branded agenda media experiences, including abounding of the world’s best accepted backdrop for entertainment, association and accidental online gaming.
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