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Bentall Kennedy JVs With Cove To Acquire New York’s 2 Rector St
Bentall Kennedy and Multi-Employer Property Trust (MEPT) have formed a JV with Cove Property Group to acquire 2 Rector St in New York from CIM Group and the Kushner Cos. The 26-storey, 476k SF office tower, located in Manhattan’s Financial District, represents a tremendous opportunity to redevelop a unique Art Deco building in “one of the most renowned and resurgent office submarkets in the world,” noted Bentall Kennedy transactions SVP Kevin Rivest. Vancouver-based Bentall Kennedy and Cove plan to renovate and reposition the building, including new elevators, mechanical systems and a redesigned lobby.
