City Tower sale revisited

Now that everyone’s back from vacation, let’s discuss the biggest deal of 2009, ECM’s sale of City Tower to friends an unknown company called Marpona for €130m. The word was the company had to raise some cash by the end of the year, and yet the yield we’re hearing mentioned right now is 7%. That just doesn’t sound like someone who needs cash in a hurry. Gemini, touted as the nearly the ultimate in prime, went for 7.25-ish.  Also, we hear from someone not involved in the deal, no lawyers were used. Which is…interesting. Would of course love to know if any of this is true, seeing as we are only reporting current market speculation. Comments, emails (anonymous or otherwise) are welcome.

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