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LogansPapa
06-11-2008, 11:56 AM
SOVEREIGN ARAB FUND TO PAY $800M

By LOIS WEISS / June 11, 2008 --

The latest Big Apple trophy being coveted by oil-rich sovereign wealth funds is the landmark Chrysler Building.

Sources say the super-rich Abu Dhabi Investment Council is negotiating an $800 million deal for a 75 percent stake in the Art Deco treasure that has defined the Midtown skyline since 1930.

The Chrysler assets would be purchased from TMW - the German arm of an Atlanta-based investment fund that's been eager to cash out of its Chrysler stake.

The deal follows last month's sale of the GM Building and three other Macklowe/Equity Portfolio properties for $3.95 billion to a group of investors including the wealth funds of Kuwait and Qatar and Boston Properties.

As part of the Chrysler deal, sources said the Abu Dhabi Investment Council would also get part of the skyscraper's signature Trylons retail prize next door.

http://www.nypost.com/seven/06112008/business/chrysler_bldg__on_the_block_115016.htm

Elspeth
06-11-2008, 02:09 PM
We are being starved, packaged and sold. A very bad time for America.

LogansPapa
06-11-2008, 02:35 PM
Unless they hang a PLO flag from the top - I see nothing wrong with raising the cash from its sale.

Cold Warrior
06-11-2008, 06:52 PM
Unless they hang a PLO flag from the top - I see nothing wrong with raising the cash from its sale.

Residents of the UAE (or of Saudi, for that matter) are none too fond of the Palestinians.

LogansPapa
06-11-2008, 06:55 PM
Residents of the UAE (or of Saudi, for that matter) are none too fond of the Palestinians.

Well good - then I guess we won’t see any PLO flags flying from the top of one of America’s former classic icons.;)

lacarnut
06-11-2008, 07:25 PM
Oh noes, it's back to those times when the Japs were buying tons of our real estate and the fear mongers were positive they would own us. The Japs lost their asses when the real estate market dropped and they sold at big lossses. :eek::)