Tags: abu | dhabi | chrysler | buy

Report: Abu Dhabi Buys Chrysler Building

Wednesday, 09 Jul 2008 09:22 AM

The sovereign wealth fund run by the government of Abu Dhabi has bought New York's Chrysler Building, reported Bloomberg News.

The price paid by the Abu Dhabi Investment Council was undisclosed. The price was supposed to have been set at $800 million, Bloomberg reported, citing a source close to the deal.

A separate Dubai fund, Boston Properties, along with investment bank Goldman Sachs, paid $2.8 billion for the General Motors building a month ago.

The Abu Dhabi fund bought the Chrysler Building from Prudential Financial, according to a spokeswoman for the insurance company.

It was last bought in 2001 for $300 million by an Atlanta real estate company Prudential later acquired.

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