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IVANHOE ACQUIRES INTEREST IN MANHATTAN TOWER FOR $360M

NEW YORK CITY — Ivanhoe Cambridge has acquired a 49.9 percent ownership interest in 1411 Broadway, a 40-story office tower in Manhattan, for $360 million. The joint venture agreement with The Swig Co. includes a managing interest for Ivanhoe and a significant investment by both parties to upgrade the property. The 1.2 million-square-foot office tower is located west of Bryant Park and south of Times Square.

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