Broadway Partners Deal to Sell One Sansome to Mirae Falls Apart

One Sansome Street

After having gone into contract with Broadway Partners about two months ago to acquire One Sansome Street, it appears South Korea-based Mirae Asset MAPS Investment Company has backed out of the $365M transaction. The 650,000 square foot building is leased in large part to Citigroup on leases which run for several more years.

We’ve heard that Mirae had even gone non-refundable on its deposit and lost that when it decided to walk away from the transaction. The failure of this deal likely does not bode well for Broadway Partners. We recently wrote about the fallout that they will likely face from the aggressive acquisition spree they went on over the past several years.

Thanks to readers DD and Deglazer for sharing.

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