Kramer Levin Represents Related in Pair of Time Warner World Headquarters Transactions

Kramer Levin served as condominium counsel to The Related Companies in a joint venture with sovereign wealth funds Abu Dhabi Investment Authority and the Government of Singapore Investment Corp. in the purchase of Time Warner’s current world headquarters consisting of 1.1 million square feet at Time Warner Center on Columbus Circle. The deal is valued at $1.3 billion, making it the one of the largest real estate deals in U.S. commercial real estate involving foreign investors. (Kramer Levin has been involved with Time Warner Center and has represented its developer, The Related Companies, on a continuing basis since 2000 when the 2.1 million square foot project was in initial planning stages.) The Kramer Levin team that worked on the purchase transaction is Real Estate partner Jonathan H. Canter and associate Pamela Swidler.

As part of the deal, Time Warner will acquire a major portion of and move its world headquarters to a new tower that Related is developing at its Hudson Yards project on Manhattan’s far West Side. A Kramer Levin team consisting of Real Estate partner Jonathan H. Canter, counsel Stephen R. Senie, and associates Inge Hindriks and Pamela Swidler are working for Related on that transaction as well as on a variety of other development matters at the Hudson Yards project.

The Wall Street Journal, The New York Times, Crain’s New York, Bloomberg and other media outlets have all reported on these transactions.