A winning bidder has been selected for the sale of AT&T's WarnerMedia unit&...
FILE PHOTO: Signage for an AT&T store is seen in New York October 29, 2014. REUTERS/Shannon Stapleton
The winner, whose identity remains undisclosed, was chosen at the end of last week for WarnerMedia’s 1.5 million square feet of space at 30 Hudson Yards, the hub of the trendy development project on Manhattan’s far west side, the source said.AT&T, looking to cut debt after last year’s $85 billion take over of Time Warner, plans to lease back the space, the source said.
AT&T’s plans for a sale and leaseback deal surfaced in January and attracted pension funds, a sovereign wealth fund and real estate investment trusts. The losing bidders have been notified, the source said.
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