NEW YORK -- (BUSINESS WIRE)—EDGE and HAIL, acting on behalf of an exclusive syndicate of HSBC Private Banking Clients, have acquired an ownership interest in 1540 Broadway, Midtown Manhattan, New York, a 907,000 square foot trophy office building, located in the center of Times Square. The property, historically known as the Bertelsmann Building, is occupied by such tenants as Viacom International Inc., Pillsbury Winthrop Shaw Pittman LLP and Chinese media giant, Xinhua News Agency.  This transaction represents the third significant office investment made by Edge and HAIL over the last 12 months. 

According to Mr. Mark Keller, EDGE’s CEO, “1540 Broadway represents our first major investment in the New York office market.  We are pleased to have a new partner in CB Richard Ellis Investors and to have CB Richard Ellis providing property management and leasing services.  We believe that 1540 Broadway represents one of the top-tiered trophy office assets in Midtown Manhattan. Once again, our investment in 1540 Broadway demonstrates HAIL’s and EDGE’s commitment to acquire superior real estate investments on behalf of the HSBC Private Bank investor club program.  Edge looks forward to continuing our investment program with HAIL in other select US markets.”

Mr. Christopher Allen, CEO of HSBC Private Bank’s Alternative Investment Division, said:  “As a trophy office building and the centrepiece of Times Square, this latest acquisition fits our strategy of investing in high-quality, stable office buildings in prime locations with credit-worthy tenants.  It also proves that we are witnessing a once in a lifetime buying opportunity for those investment managers that have the liquidity and global contacts.”

Edge Fund Advisors and its affiliate Edge Funds Management LLC Profile: Edge Fund Advisors is a real estate investor and full service real estate asset manager. Edge provides asset management services to HSBC Alternative Investments Limited. For more information, visit www.Edge-Funds.com