New York office block now fully owned by ADIA

(London / Dubai)

According to an article published on Arab News, the Abu Dhabi Investment Authority (ADIA) is said to have bought 25% of 330 Madison Avenue from Vornado Realty Trust, gaining full ownership of the New York office block with the deal expected to close in the third quarter of this year.  ADIA has between 5% to 10% of its portfolio in real estate.

The article further notes that Gulf sovereign wealth funds, especially Abu Dhabi and Qatari funds, have for decades been investing in commercial real estate in Europe and the U.S.

Read the original article on Arab News:  ADIA takes full ownership of New York office block