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NEW YORK — J.P. Morgan is the lead lender of the $150 million acquisition financing for 520 Fifth Avenue, a development site located at the southeast corner of 43rd Street and Fifth Avenue in Manhattan. Fisher Brothers provided the mezzanine portion of the financing to the borrower, a joint venture between Ceruzzi Holdings (Ceruzzi) and Shanghai Municipal Investment USA (SMI USA). Thor Equities sold the site to the joint venture for $325 million, according to multiple media outlets. 520 Fifth Avenue is a 10,625-square-foot site with 85 feet of frontage along Fifth Avenue. The new owners plan to develop a new mixed-use tower that will consist of retail and either luxury condominiums or a combination of luxury condominiums and hotel. The undeveloped parcel has zoning that will accommodate up to 355,000 square feet. Before building the tower, Ceruzzi and SMI USA plan to first build more than 33,000 square feet of retail space at the site fronting Fifth Avenue. “Given my long history and relationship with J.P. Morgan and 520 Fifth Avenue’s unrivaled development potential, we are delighted to have found a pre-development financing solution that allows us to set in motion a development project that will positively change the …

NEW YORK CITY — SL Green Realty Corp. (NYSE: SLG) has completed the purchase of the 11 Madison Ave. office building in New York for $2.6 billion, which includes $300 million in costs associated with improvements to the property. The acquisition has been financed with $1.4 billion of 10-year, interest-only, fixed-rate financing at a rate of 3.8 percent annually. The 29-story Art Deco-style building serves as the U.S. headquarters for Sony and Credit Suisse AG. It spans 2.3 million square feet and is located between East 24th and 25th streets. CBRE’s Darcy Stacom and Bill Shanahan brokered the transaction. The seller is a partnership of the Sapir Organization and the CIM Group. SL Green funded acquisition of the iconic property through a combination of property sales, joint ventures, new financing and existing property debt refinancings, while retaining cash for other investments in the pipeline. The company previously sold Tower 45, a 440,000-square-foot office building at 120 W. 45th St., for $365 million. SL Green also previously sold 80 percent of its ownership interest in a 73,000-square-foot mixed-use asset located at 131-137 Spring St. in SoHo to Invesco Real Estate. SL Green will retain a 20 percent ownership interest in the …

SAN BRUNO, CALIF. — QIC, one of the largest institutional investment managers in Australia, has acquired the Shops at Tanforan in the San Francisco Bay Area suburb of San Bruno for $174 million. The 970,000-square-foot shopping center was acquired from Breevast BV by what is being described as a “major Australian client.” The Shops of Tanforan’s anchor tenants include Sears, Target, JC Penney and Century Theatres. San Bruno is located 13 miles south of San Francisco, near major tech companies such as Facebook and Apple. “The U.S. market is opportunity-rich, and the combination of QIC’s on-the-ground office in Los Angeles and teams around the world will continue to enable us to source high-quality assets for our clients,” says Matthew Strotton, head of U.S. funds and investments for QIC. The Shops at Tanforan is the 10th U.S. retail property QIC has invested into on behalf of its Australian clients over the last 18 months. Earlier this year, QIC assisted AustralianSuper — one of Australia’s largest pension funds — in acquiring a 25 percent stake in Honolulu’s Ala Moana Centre for approximately $1.1 billion. The acquisition of The Shops at Tanforan, which represents QIC’s first 100 percent-owned U.S. property, is a part …

BOSTON ­— Blackstone Group LP (NYSE: BX) has agreed to sell two office buildings in Boston’s Back Bay area for approximately $1.3 billion. The properties at 500 Boylston St. and 222 Berkeley St. will be acquired by a unit of JPMorgan Chase & Co. and Oxford Properties Group, according to Bloomberg Business. The properties reportedly attracted substantial interest from investors, including real estate investment trusts and sovereign-wealth funds. 500 Boylston St. is a 25-story, 706-862-square-foot building. Major tenants include Marshalls, MFS Investment Management, Newstar Financial, Talbots and Visnick & Caufield. 222 Berkley St. is a 22-story, 519,608-square building that shares a 1,000-car parking garage with 500 Boylston St. Tenants include, Bank of New York, HLM Management, Houghton Mifflin, Summit Partners and Regiment Capital. Blackstone has been selling office assets to take advantage of fierce demand for prime properties in major coastal markets. In April, Blackstone sold 26 Northern California properties totaling 8.2 million square feet, along with two development parcels, to Hudson Pacific Properties Inc. Blackstone’s sale of 500 Boylston St. and 222 Berkeley St. is expected to close in September. Blackstone’s stock closed Thursday, Aug. 13 at $38.16 per share, up from $33.54 a share a year ago.

INDIANAPOLIS — Simon Property Group (NYSE: SPG) continues to add to its massive retail portfolio with the opening of two new projects: Gloucester Premium Outlets in Gloucester Township, N.J., and the expansion of San Francisco Premium Outlets. With the expansion, San Francisco Premium Outlets is now the largest outlet center in California. The new 376,000-square-foot outlet mall in Gloucester Township serves shoppers in southern New Jersey and metro Philadelphia. The single-level, outdoor village-style shopping center features a racetrack design and a Market Hall that offers dining options, indoor and outdoor seating, a media center with flat screen televisions and free Wi-Fi. The mall’s tenant roster includes Armani Outlet, Banana Republic Factory Store, Calvin Klein, Cole Haan, Columbia Sportswear, Lucky Brand, Nike Factory Store, Puma, Tommy Hilfiger, Under Armour and Vera Bradley. On the other side of the country, Simon has opened the 185,000-square-foot expansion of San Francisco Premium Outlets, an upscale outlet mall in San Francisco featuring retailers such as Burberry, Coach, Kate Spade New York, MaxMara, Michael Kors and Prada. The expansion adds 30 new stores to the development, including CH Carolina Herrera, Catimini, ECCO, Rag & Bone New York, Scotch & Soda, Ted Baker London, Tory Burch, UGG …