RXR acquired a 49% stake in Ivanhoe Cambridge’s 1211 Sixth Avenue, valued at $1.2 billion and home to Rupert Murdoch’s Fox and News Corp., which occupy over half the building. The partners plan a $300 million renovation, including lobby and plaza updates and a wellness center. RXR will manage the property, offering education and wellness initiatives, and share in renovation costs and a $1 billion loan due in August. Ivanhoe previously committed to renovations as part of Fox’s 20-year lease renewal. RXR also secured law firm Ropes & Gray as a tenant for another nearby property.
Ivanhoe Cambridge’s 1211 Sixth Avenue
