Ivanhoe Cambridge has acquired a 51 per cent managing member interest in an office building in New York City.

The 45-storey, Class A tower is located adjacent to the Rockefeller Center, between 47th and 48th streets at 1211 Avenue of the Americas.

The transaction represents an investment of more than $850 million US. The acquisition was from an affiliate of Beacon Capital Partners, LLC.

“This investment exemplifies one of the priorities set out in our strategic plan to build our office building portfolio in the United States by growing a critical mass of assets in key markets such as New York City,” says Bill Tresham, president of global investments at Ivanhoe Cambridge.

The building received LEED (Leadership in Energy and Environmental Design) silver certification from the U.S. Green Building Council in 2009.

Key tenants include News America Inc., a subsidiary of Twenty-First Century Fox Inc., Ropes & Gray LLP and Axis Reinsurance.

To date, Ivanhoe Cambridge has invested more than $3 billion US into the office and multi-residential sectors of the borough of Manhattan.