15.01.2014 - Time Warner nears deal to sell headquarters
Time Warner is close to a deal to sell its Manhattan headquarters for $1.3 billion, after sovereign-wealth funds from Abu Dhabi and Singapore agreed to finance more than 80% of buyer Related Cos.'s bid. While the Abu Dhabi Investment Authority and the Government of Singapore Investment Corp. will own most of the joint venture, Related will manage the tower on the corner of Central Park, the people said. The transaction would be one of the biggest in a surge of deals involving foreign investors in U.S. commercial real estate. Increased demand from overseas has helped drive U.S. commercial property values to record levels, particularly in major cities favored by global firms...............................................Full Article: Source
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