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It’s Official: Abu Dhabi Owns 90% of the Chrysler Building

Posted Jul 29 2008 9:31am

Chrysler Building, 2nd tallest building in New York

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On a previously post on CG,Foreign Investors Buying Major U.S. Properties, we reported about Abu Dhabi was looking at purchasing the Chrysler Building through a real estate investment group.

From the International Harold Tribune:

Abu Dhabi buys 90% of the Chrysler Building

The government of Abu Dhabi bought a 90 percent stake in the Chrysler Building on Tuesday for $800 million from German real estate investors and Tishman Speyer.

From The New York Post:

Chrysler Building Goes Abu Dhabi

From The nearly $800 million deal, first reported by The Post on June 11, by the Middle East sovereign wealth fund included the purchase of 90 percent of the ownership stake while leaving local Tishman Speyer Properties as the manager of the 77-story tower. As of today, the majority of the iconic Chrysler Building should be in the - we expect - happy hands of the Abu Dhabi Investment Council.

FLASH NEWS BREAK:

Donald Trump closes deal on Palm Beach residence to Russian investor for $95 million dollars.Check this out.

image_7060390-trump-mansion.jpg

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