Government of Singapore Investment Corp. commits to Milstein's 335 Madison Avenue.In a transaction that will enable the Government of Singapore Investment Corporation The Government of Singapore Investment Corporation Private Limited (GIC) is a global investment management company established by the Government of Singapore in 1981 to manage Singapore's foreign reserves. (GIC GIC See: Guaranteed Investment Contract GIC See guaranteed investment contract (GIC). ) to consolidate two offices into one, as well as expand by 80%, the investment company has committed to a 15-year lease for 39,682 s/f on the entire 24th floor of 335 Madison Avenue. The Government of Singapore Investment Corporation manages in excess of $100 billion in foreign investments on behalf of the government of Singapore The Government of Singapore is formed by the political party which gains a simple majority in the general elections held in Singapore at least once every five years. It is part of Singapore's political system and supported by the Singapore Civil Service. . Daniel Horowitz, executive managing director of Studley, along with Jon Rosenblatt, assistant director, represented the organization in its consolidation from 17 State Street and 665 Fifth Avenue to its new premises. "This was a challenging assignment," said Horowitz, who explained that approvals had to go through company officials in both Singapore and New York. "After thoroughly evaluating markets in the Northeast, including Greenwich, Connecticut, Westchester and Boston, Massachusetts, it became clear that consolidating and expanding in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. was the optimal solution both from a business as well as a human resources standpoint. "The company's needs called for a building that could accommodate GIC's demanding technological requirements as well as a convenient location, sufficient space for a trading area, conference rooms, general office space and an area dedicated to displaying the culture of Singapore." 335 Madison, aka Bank of America Plaza There are several buildings in the United States called Bank of America Plaza:
Among it prestigious roster of tenants are Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. , Thompson Hine LLP, Towers Perrin, ITOCHU and Radian Reinsurance, Inc. Matthew E. Fernand Esq. and Alan S. Weil Esq. of Sidley Austin acted on behalf of The Government of Singapore Investment Corporation, while Richard M. Frome Esq. represented Milstein. |
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