575 Lexington Ave. Normandy sold a majority stake in 575 Lexington Ave. in Manhattan to a partnership including NTT in the summer of 2015.

NEW YORK CITY—Having already made five co-investments with Normandy Real Estate Partners, Japan’s NTT Urban Development Corp. is now making an investment in Normandy itself.  The Nippon Telegraph and Telephone Corp. subsidiary has taken a 15% equity interest in Normandy’s management platform; the value of the stake was not disclosed. Morristown, NJ-based Normandy manages over $1.5 billion of equity capital on behalf of institutional investors.