November 16, 2006
An investment vehicle formed by investor Carl Icahn and Macklowe Properties submits $4.6 billion acquisition bid for Reckson Associates Realty Corp., one of the largest commercial real estate holders in the New York metropolitan area.
On November 15, an investment vehicle formed by investor Carl Icahn and Willkie client Macklowe Properties submitted a $4.6 billion acquisition bid for Reckson Associates Realty Corp., one of the largest commercial real estate holders in the New York metropolitan area. As reported in the November 16 Wall Street Journal, the bid of $49 in cash for each share of Reckson trumps an earlier offer of $4.13 billion made by SL Green. Uniondale, NY-based Reckson is a real estate investment trust that owns a group of prominent office towers in Manhattan, as well as a number of large buildings throughout Connecticut, New Jersey, Long Island and Westchester County. With nearly 10 million square feet of space, Macklowe Properties is a privately owned entity of Harry Macklowe and William S. Macklowe. It has been an active developer, acquirer, redeveloper, owner and manager of a diverse array of premium real estate investments for over 40 years. Lead attorneys on the deal are partners Steven Seidman and Rosalind Fahey Kruse, and associate Laura Delanoy.
