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| Broadway Partners is a private real estate investment and management firm headquartered in New York. The firm invests in high quality office properties in select markets nationwide. Since 2000, Broadway Partners has acquired office assets with a value in excess of $15 billion.
Broadway Partners has an exceptionally strong team comprised of seasoned professionals with significant real estate transactional, operating and investing experience.
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| Broadway Partners is a vertically integrated owner/operator with professionals from a wide spectrum of disciplines, including acquisitions and dispositions, capital markets, property and asset management, investor relations, leasing and law.
The senior management team has invested and operated in varied markets through all phases of the office real estate cycle and enables the firm to benefit from extensive and longstanding industry contacts, particularly in the area of acquisitions and capital markets.
Over the last several years, in the face of a challenging market and intense competition, Broadway Partners has demonstrated an ability to acquire office property, add value, and execute optimal exit strategies for its investors.
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| BROADWAY PARTNERS ANNOUNCES SALE OF ONE CITY CENTRE | |
| New York, NY, June 19, 2008 -- Broadway Partners, a national private real estate investment and management firm headquartered in New York, announced today that it has completed the sale of Houston’s One City Centre to Behringer Harvard REIT I, Inc. for $131 million.
Upon taking ownership of the Class A downtown property, Broadway immediately embarked on an aggressive program to attract new tenants and retain existing tenants for the long term in order to increase occupancy and enhance value. Broadway succeeded in raising occupancy from 82.2 percent to 95.5 percent, and last week announced a 181,000-square-foot 10-year lease extension with Waste Management, Inc.
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