Rain Acquired by Empire State Realty Trust | Real Estate Services M&A Deal

Empire State Realty Trust has completed the acquisition of Rain, a property management business in New York, for $401 million. Rain acquisition expands Empire State Realty Trust acquisitions in real estate services M&A, strengthening NY acquisitions across New York City. As a strategic acquisition, the property management acquisition supports add on acquisition capabilities for managing commercial assets tied to 555-557 Broadway. Empire State Realty Trust acquisitions are categorized as an add on acquisition and a strategic acquisition, with deal size reported around $386 million and status announced, supporting broader real estate services deals NY in the announced timeframe.