Macquarie Asset Management (MAM) has acquired the mixed-use 375 Broadway building in New York on behalf of a new US separate account mandate.

IPE Real Assets understands that the asset manager’s US core/core-plus real estate paid $130m (€112m) to buy Jewel box, the fully-let asset in the heart of Soho.

The sellers of 375 Broadway were institutional investors advised JP Morgan Global Alternatives, were represented by the JLL Capital Markets investment sales team.

The five-storey building, which was constructed in 1863, was fully renovated in 2014.

Christopher Quiett, the head of Macquarie Asset Management’s US core/core-plus real estate team, said: “New York City is a global hub for innovation and Soho’s unique culture draws both leading technology firms and high-end retailers alike.

“We are very pleased to add another great property to our New York portfolio with the purchase of 375 West Broadway.”

To read the latest edition of the latest IPE Real Assets magazine click here.