23.05.2014 - Qatar fund may finance Vornado tower
Vornado Realty Trust is in close talks with a Qatar sovereign-wealth fund to finance its planned condo tower on Central Park South. The Qatar Investment Authority would provide hundreds of millions of dollars to finance the 950-foot tower, according to The Wall Street Journal. The real estate investment trust has reportedly spent about $510 million on the site so far. It has been looking to construct the tower without having to put more of its own money into the project and this deal will help the company meet that goal. The sovereign Arab emirate has shown great interest in New York City real estate in recent months. Earlier this year, the government of Qatar bought a townhouse at 19 E. 64th St. for $100 million. It plans to set up its New York consulate there.............................................Full Article: Source
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