Carlyle Inks Sale of Madison Ave. Tower for $1.3 Bln

Crown Acquisitions and Highgate have agreed to buy the 27-story glass and steel office and retail tower at 650 Madison Avenue from the Carlyle Group for $1.3 billion. Carlyle Realty Partners V, a $3 billion opportunistic U.S. real estate fund, made the investment in 2008.

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