Summary
Moody's Corporation (MCO) has announced the sale of its current corporate headquarters building located at 99 Church Street, New York, New York, for $170 million. This transaction, effective November 20, 2006, involves selling the premises to 99 Church Investors LLC. While the sale is complete, Moody's plans to lease back the building until its relocation to a new corporate headquarters at 7 World Trade Center is finalized. This move is anticipated to occur within the next twelve months. This strategic move allows Moody's to capitalize on its real estate asset while managing its transition to a new, modern facility.
Key Highlights
- 1Moody's Corporation sold its 99 Church Street headquarters building.
- 2The sale price for the property is $170 million.
- 3The buyer is identified as 99 Church Investors LLC.
- 4Moody's will lease back the premises until its relocation is complete.
- 5The company is relocating to a new corporate headquarters at 7 World Trade Center.
- 6The relocation is expected to be completed within the next 12 months.
Frequently Asked Questions
This filing reports on a material definitive agreement, specifically the sale of Moody's current corporate headquarters building at 99 Church Street, New York, for $170 million.
No, Moody's has entered into a sale agreement that includes a leaseback provision, allowing them to continue occupying the 99 Church Street building until their relocation is complete.
Moody's is relocating its corporate headquarters to 7 World Trade Center, located at 250 Greenwich Street, New York, New York.
The company expects the relocation to its new headquarters at 7 World Trade Center to be completed within the next twelve months.