Abu Dhabi, Singapore wealth funds invest in trophy property | GulfNews.com

Abu Dhabi, Singapore wealth funds invest in trophy property | GulfNews.com:

"Abu Dhabi and Singapore’s sovereign wealth funds will join developer Related Companies to acquire the Manhattan headquarters of media group Time Warner, the latest large property deal to be struck by foreign investors in New York.
Time Warner is selling its trophy 1.1m square foot offices at its namesake complex at Columbus Circle for $1.3 billion (Dh4.8 billion) as it seeks to move to a new skyscraper planned on the city’s far west side.
Abu Dhabi Investment Authority and Singapore’s GIC will each invest just more than $300 million, with additional equity from Related, people familiar with the matter said. Debt investors will also help finance the deal."

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