Blue Sky Alternative Investments Limited
(ASX:BLA) says it will acquire a Manhattan office tower through a company it has invested in.
Blue Sky holds a 38 per cent interest in Cove Property Group which is involved in a joint venture investment vehicle that will pay over $280 million for the New York office block.
Most of the equity will be provided by a North American institutional investor.
Blue Sky says the deal will have no material impact on guidance or fee earning assets under management but is an important milestone in its US operations.
Blue Sky Investments reported a net profit of $4.48 million for the six months to the end of December 2015.
