Interesting tidbit on Blackstone, who owns Freescale.
Courtesy of a guest on a different thread of mine.
Blackstone Acquires Debt on 7 World Trade Center
New York, NY – October 17, 2000: Blackstone Real Estate Advisors, the global real estate investment and management arm of The Blackstone Group, L.P., announced today that it has purchased, from Teachers Insurance and Annuity Association, the participating mortgage secured by 7 World Trade Center, a commercial office complex controlled by real estate developer Larry Silverstein.
Located in downtown Manhattan, 7 World Trade Center is a 47 story, Class A, office tower containing 2 million square feet of office space. The property, which is 100% occupied, houses some of Manhattan’s premier companies including Salomon Smith Barney, Hartford Fire Insurance, American Express and the U.S. Securities and Exchange Commission.
The mortgage contains certain features which allow Blackstone, as the lender, to share in the improvement in performance of the asset over time through its maturity in 2006. Average rents in the building are currently $45 per square foot, reflecting a significant discount to current market rents. Additional terms of the transaction were not disclosed.