Wednesday, June 11, 2008

Abu Dhabi Is Planning To Buy Chrysler Building


Abu Dhabi is definitely conquering the international market of investments as it recently planned to buy the Chrysler Building in New York City.

Sources told the Post that the Abu Dhabi Investment Council would also get part of the skyscraper's Trylons retail space next door and that Tishman Speyer would remain in charge of the building, with the Abu Dhabi fund essentially acting as a silent partner.

The agreement would follow last month's deal in which a group led by Boston Properties Inc would buy the GM Building and three others from Macklowe Properties for $3.45 billion. The Post said investors in that deal included the wealth funds of Kuwait and Qatar.

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