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THURSDAY, NOVEMBER 26, 2009
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PREMIUM NEWS ARCHIVE

Real estate investment dip.(Business)

Article from: Daily Herald (Arlington Heights, IL) Article date: August 3, 2008

Byline: J.W. Elphinstone Associated Press

Armed with oil profits, two Middle Eastern buyers recently snapped up New Yorks Chrysler Building and General Motors Building for an estimated $3.7 billion.

But their acquisitions of the two trophy offices belies their waning interest in U.S. commercial real estate this year as the U.S. economy stumbles and property prices dip.

Earlier this month, the Abu Dhabi Investment Council, one of the worlds largest sovereign wealth funds, bought a 75-percent stake in the Chrysler ...

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