3/10/2009

The New York Times Co. has sold the 750,000 square feet that it occupies in its Manhattan headquarters to W.P. Carey & Co. and two of its affiliated nontraded REITs -- CPA:16-Global and CPA:17-Global -- for $225 million in a sale-leaseback transaction. The 42% stake of the Forest City Ratner Cos. in the building at 620 Eighth St. is unaffected by the deal, and the Times Co. retains ownership of six floors that are occupied by other tenants.

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