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Healthcor Management, Arosa Capital Management and Engineers Gate Announce Move to 55 Hudson Yards
NEW YORK, NY – December 5, 2017 – Hudson Yards today announced that HealthCor Management, a premier investment firm in global healthcare and life science; Arosa Capital Management, an alternative investment management firm focused on investments in energy and energy-related sectors; and Engineers Gate, a proprietary quantitative trading company founded by Glenn Dubin, will all move their New York office headquarters to 55 Hudson Yards. Maison Kayser, the renowned French bakery and café, will also open a location in the building where employees will enjoy authentic artisanal French Boulangerie. Developed by Related Companies, Mitsui Fudosan America and Oxford Properties Group, Manhattan’s newest boutique office tower is now 90% leased.
Jay Cross, President of Related Hudson Yards said, “The dynamic mixed-use, amenity rich development at Hudson Yards continues to attract leading companies to Manhattan’s West Side. We are thrilled to welcome HealthCor Management, Arosa Capital Management and Engineers Gate to 55 Hudson Yards and New York City’s newest neighborhood.”
Glenn Dubin, Founder of Engineers Gate said, “We’re excited to be moving our offices to Hudson Yards. Related Companies has an enlightened vision, and Engineers Gate is happy to be a part of it.”
Till Bechtolsheimer, Co-Founder, Portfolio Manager and CEO of Arosa Capital Management said, “Hudson Yards is a world class project. The state of the art facilities, infrastructure and mixed-use design offered here are unparalleled in New York and Arosa Capital is excited to become a part of this premier development.”
The anticipated LEED Gold, 1.3 million gross-square-foot building was designed by acclaimed global architect A. Eugene Kohn of Kohn Pedersen Fox (KPF) and is on schedule to open in 2018. The building is defined by its indoor-outdoor spaces, early modernism-inspired exterior design and exceptionally efficient interior space planning. Positioned at the intersection of Hudson Yards, the High Line and Hudson Park & Boulevard, 55 Hudson Yards is one of the few office buildings in the entire city that opens directly onto a park. It also sits adjacent to a No. 7 Subway station, which connects to nearly every other major subway line, as well as Grand Central Station. Penn Station is also less than a ten-minute walk away. The building will also be home to: Boies, Schiller & Flexner; Cooley LLP; Intercept Pharmaceuticals; MarketAxess; Milbank, Tweed, Hadley & McCloy LLP; Point72; Third Point LLC. and Silver Lake.
The unprecedented commercial office leasing effort at Hudson Yards has attracted more than 6.4 million square feet of occupancy by some of the world’s leading businesses. 10 Hudson Yards, home to Coach Inc., L’Oréal USA, The Boston Consulting Group, SAP, VaynerMedia, Intersection and Sidewalk Labs, opened in May of 2016. The Shops and Restaurants at Hudson Yards, which is already over 70% committed; the 5-acre Public Square and Gardens and Vessel; 30 Hudson Yards, home to DNB Bank, Kohlberg, Kravis & Roberts (KKR), Time Warner Inc. and Wells Fargo Securities; will all open in 2019, along with the site’s mixed-use tower, 35 Hudson Yards. 50 Hudson Yards, the future home of BlackRock, will open in 2022.
Hudson Yards is an entirely new neighborhood on Manhattan’s West Side and comprises more than 18 million square feet of mixed-use development. Developed by Related Companies and Oxford Properties Group, it will include more than 100 shops and restaurants, including New York City’s first Neiman Marcus, signature restaurants and diverse eateries; approximately 4,000 residences; 14-acres of public open space; a new 750-seat public school and an Equinox® hotel with more than 200 rooms – all offering unparalleled amenities for residents, employees and guests.
Newmark Knight Frank Vice Chairman Brian Goldman and Associate Director Matt Lorberbaum represented HealthCor Management; Silvio Petriello and Ben Friedland from CBRE represented Engineers Gate; and Mike Movshovich and Ben Friedland from CBRE represented Arosa Capital Management in the transaction. Stephen Winter, Vice President of Commercial Leasing at Related Companies; Bob Alexander, CBRE Chairman Tri-State Region; Howard Fiddle, CBRE Vice Chairman; and Emily Jones, Senior Vice President, represented the ownership group.
ABOUT RELATED COMPANIES:
Founded more than 40 years ago, Related Companies is a fully-integrated, highly diversified industry leader with experience in virtually every aspect of development, acquisitions, management, finance, fund management, marketing and sales. The company has $50 billion of real estate assets owned or under development including best-in-class mixed-use, residential, and retail, office, trade show and affordable properties in premier high-barrier-to-entry markets. Headquartered in New York City, Related has offices and major developments in Boston, Chicago, Los Angeles, San Francisco, South Florida, Washington, D.C., Abu Dhabi, London and Shanghai, and is well-known for having developed the 2.8 million square foot Time Warner Center in New York City and the 72-acre CityPlace in West Palm Beach as well as being a leader in green building. For more information, please visit www.related.com.
ABOUT OXFORD PROPERTIES GROUP:
Oxford Properties Group is a global platform for real estate investment, development and management, with approximately 2,000 employees and over $40 billion of real assets that it manages for itself and on behalf of its co-owners and investment partners. Established in 1960, Oxford has regional offices in Toronto, London and New York, and the company’s portfolio includes approximately 56 million square feet of office, retail, industrial, multi-family and hotel properties. Oxford is the real estate arm of OMERS. For more information, please visit www.oxfordproperties.com.
ABOUT MITSUI FUDOSAN AMERICA, INC.:
Mitsui Fudosan America, Inc. (MFA) is a real estate investment and development company headquartered in New York City and is the U.S. subsidiary of Mitsui Fudosan Co., Ltd. – Japan’s largest publicly traded real estate company. MFA’s history in the United States dates back to the early 1970’s. Since its inception, MFA has acquired and developed numerous office, multifamily and hospitality properties in major markets throughout the U.S. including: 1251 Avenue of the Americas in Midtown Manhattan; The Homer Building and 1200 17th Street in Washington D.C.; 270 Brannan Street in San Francisco and the renowned Halekulani Hotel in Waikiki, Hawaii. In addition to its significant portfolio of office buildings, MFA recently expanded its development platform, with several office and multifamily development projects launched in New York, San Francisco, and Washington D.C. For more information, please visit www.mfamerica.com.
ABOUT HEALTHCOR MANAGEMENT:
Founded in 2005, HealthCor is a fundamental healthcare investment manager that invests in major healthcare sub-sectors, including biotech, pharma, medtech and services. HealthCor manages approximately $3.2 billion in assets, and leverages its security selection expertise across a platform of healthcare-focused investment strategies.
ABOUT AROSA CAPITAL MANAGEMENT:
Founded in August 2013 by Till Bechtolsheimer and Abraham Joseph, Arosa Capital Management LP (“Arosa”) is an alternative investment manager focusing on investments in energy and related sectors. Arosa manages two core investment strategies, which employ complementary mandates. Each strategy has a defined investment team whose members have spent the majority of their professional careers investing and/or working in the energy sector. The Firm is headquartered in New York, NY, and has an office in Dallas, TX.
ABOUT ENGINEERS GATE:
Engineers Gate is a private trading firm based in New York City founded in early 2014. We are a team of mathematicians, computer scientists, financial engineers, and other market professionals managing private investment capital and building a next generation platform for quantitative trading. Through a systematic investment process, careful risk management, and a dedication to integrity, intellectual rigor, and collaboration, we seek to generate exceptional risk-adjusted investment returns. Engineers Gate is a Registered Investment Advisor regulated by the U.S. Securities and Exchange Commission as well as a Commodity Pool Operator regulated by the U.S. Commodity Futures Trading Commission.