Abu Dhabi sovereign fund buys full ownership of New York office block - Reuters:
Abu Dhabi Investment Authority (ADIA) said on Wednesday it had bought a 25% stake in 330 Madison Avenue from Vornado Realty Trust, gaining full ownership of the office block close to New York’s Grand Central Station.
ADIA, which the Sovereign Wealth Fund Institute estimates manages nearly $700 billion in assets, has between 5% to 10% of its portfolio in real estate.
The stake was bought by a subsidiary of ADIA, a spokesman of ADIA told Reuters, adding ADIA already owned 75% of the property for 30 years.
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