20.01.2014 - GIC buys $1.3 bln NY office space
Singapore sovereign wealth fund GIC is buying more than one-third of the space in New York's Time Warner Centre with two partners for US$1.3 billion (S$1.65 billion). The 1.1 million sq ft of office space in the twin tower development, located in Colombus Circle, is being bought from United States media giant Time Warner, which will lease it back until early 2019. Time Warner is moving its operations to Hudson Yards, in another part of New York, it said in a Thursday statement. About 5,000 employees, including those from its HBO, Turner Broadcasting, and Warner Bros businesses, will occupy the new office in Hudson Yards at the end of 2018...............................................Full Article: Source
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