Two big names in the New York office-building business have agreed to end their seven-year-old joint ownership of a Midtown tower in a deal that closes the book on a commercial real-estate saga that dates back to the dark days of the downturn. In 2011, SL Green Realty Corp. rode to the rescue of the Moinian Group by helping it recapitalize 3 Columbus Circle, which at the time was a distressed redevelopment project. SL Green’s move blocked another New York real-estate heavyweight, Related Cos., which had acquired the $250 million...

Source: Wall Street Journal August 19, 2018 19:18 UTC