{"id":1004193877,"date":"2017-10-16T03:00:38","date_gmt":"2017-10-16T11:00:38","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004193877"},"modified":"2022-12-08T03:54:55","modified_gmt":"2022-12-08T11:54:55","slug":"ll-holding-jp-morgan-form-jv-to-invest-4b-in-nyc-cre","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/ll-holding-jp-morgan-form-jv-to-invest-4b-in-nyc-cre\/","title":{"rendered":"L&L Holding, JP Morgan Form JV to Invest $4B in NYC CRE"},"content":{"rendered":"

By Barbra Murray<\/em><\/p>\n

\"Robert<\/a>

Robert Lapidus, president & chief investment officer, L&L Holding Co.<\/p><\/div>\n

L&L Holding Co., an active player on New York City\u2019s commercial real estate scene since its 2000 inception, just formed a $500 million joint venture with J.P. Morgan Asset Management. The new partnership provides for a leveraged total of as much as $4 billion for investment in acquisitions and developments across the Big Apple.<\/p>\n

“We are in the midst of an unprecedented period of growth for L&L Holding Co. in terms of the quantity, quality and complexity of the projects we are undertaking<\/em>,” Robert Lapidus, president & chief investment officer, L&L Holding Co., said in a prepared statement. “In forming this partnership, we will have dedicated capital to pursue our strategic objectives<\/em>.”<\/p>\n

The partners are keeping their options wide open; they\u2019ll consider investments in various asset classes in all five boroughs. However, they will train a special eye on opportunities for the acquisition and redevelopment of value-add properties specifically in Manhattan.<\/p>\n

A full plate to get fuller<\/strong><\/h2>\n

L&L is no stranger to multi-tasking, especially in Manhattan. The company is in the middle of major office development projects<\/a> at 425 Park Avenue and 390 Madison. Additionally, over the summer, the company joined Maefield Development, Fortress Investment Group and the Nederlander Organization in the $2 billion redevelopment of the Doubletree Suites Times Square Hotel <\/a>property at 1568 Broadway.<\/p>\n

\"David<\/a>

David Levinson, L&L Holding chairman & CEO<\/p><\/div>\n

\u201cWe have made a concerted effort, through the projects we choose and the leadership team we have assembled, to boost our ability to embark upon New York’s complicated projects and create enduring value both for our investors and New York City,<\/em>\u201d David Levinson, L&L Holding chairman & CEO, said in prepared remarks. \u201cThis joint venture will even further enhance our capacity by making us even more nimble and effective in the pursuit of new development opportunities.<\/em>“<\/p>\n

Image courtesy of L&L Holding Co.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The new $500 million partnership will acquire and develop properties throughout the Big Apple, with a strong focus on value-add office assets in Manhattan. <\/p>\n","protected":false},"author":260,"featured_media":1004193881,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21783,1600,21742,10,21747],"tags":[32972,37976,37232],"class_list":["post-1004193877","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-investment","category-new-york","category-latest","category-northeast","category-office","tag-jp-morgan-chase-company","tag-ll-holding","tag-times-square-submarket"],"acf":[],"yoast_head":"\nL&L Holding, JP Morgan Form JV to Invest $4B in NYC CRE - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/ll-holding-jp-morgan-form-jv-to-invest-4b-in-nyc-cre\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"L&L Holding, JP Morgan Form JV to Invest $4B in NYC CRE\" \/>\n<meta property=\"og:description\" content=\"The new $500 million partnership will acquire and develop properties throughout the Big Apple, with a strong focus on value-add office assets in Manhattan.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/ll-holding-jp-morgan-form-jv-to-invest-4b-in-nyc-cre\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-10-16T11:00:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T11:54:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Robert-Lapidus-LL-Holding-Co..jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adriana Pop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/ll-holding-jp-morgan-form-jv-to-invest-4b-in-nyc-cre\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/ll-holding-jp-morgan-form-jv-to-invest-4b-in-nyc-cre\/\",\"name\":\"L&L Holding, JP Morgan Form JV to Invest $4B in NYC CRE - 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