Hedge fund renews 100,000 s/f Greenwich lease.Tower Realty Management Corporation of San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , CA, announced that Paloma Partners has leased 105,000 s/f at Greenwich American Centre in Greenwich. The firm, a multi-strategy hedge fund hedge fund, in finance, a highly speculative, largely unregulated investment device. Originating in the 1950s, the funds "hedge" by offsetting "short" positions (borrowing a security and then selling it at a higher price before repaying the lender) against "long" , signed a long-term lease renewal. It will continue to occupy the first floor in the 600,000 sf building, located at One American Lane. Joseph S. Grubb, Jr., Senior Vice President of Tower Realty, together with Jay S. Hruska, Executive Director of Cushman & Wakefield, represented the landlord, Greenwich American Centre, Inc. Robert Martin Robert J. Martin (born January 13, 1947) is an American Republican Party politician, who has served as a member of the New Jersey State Senate since 1993, where he represents the 26th Legislative District. of CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2. represented Paloma Partners. "Greenwich American Centre is extremely attractive to financial services firms, and specifically hedge funds, said Mr. Hruska. "The landlord has been enormously successful in attracting some of the most significant tenants both regionally and nationally to this Class A property." In 2003, hedge funds Amaranth Advisors leased 123,000 square feet and Tudor Investments leased 23,000 sf in the building and in 2002, another hedge fund, Andor Capital, leased 145,000 sf. "Paloma Partner's long term commitment to Greenwich American Centre further solidifies the facility's position as a premier location for major financial services companies," added Mr. Grubb. "The building's floor sizes, amenities, location and close proximity to Wall Street are advantageous and very attractive to the financial sector." "Several other transactions for sizable blocks of space are currently in negotiation," said Mr. Grubb. "We anticipate making additional leasing announcements shortly." Tower Realty is an affiliate of GIC GIC See: Guaranteed Investment Contract GIC See guaranteed investment contract (GIC). Real Estate and manages its premier office properties 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. , Chicago, Philadelphia, San Francisco, Seattle and Milwaukee. |
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