QIA invests in $5.6 billion portfolio of New York retail properties
April 19, 2019
According to an article on Reuters, QIA and private realty firm Crown Acquisitions said on Friday they were the unnamed investors in a deal with Vornado Realty Trust valued at $5.56 billion that involves a portfolio of prime New York retail properties.
Vornado sold a non-controlling stake in its portfolio of properties along Fifth Avenue and Broadway in Times Square in a transaction that provided the firm cash proceeds of about $1.2 billion
QIA Chief Executive Mansoor Al-Mahmoud said in a statement the investment underlined QIA’s ambition to boost its investments to $45 billion in coming years and was quoted saying “our belief in the exciting long-term possibilities offered by New York City.”
Read the original article on Reuters: QIA named as one of the investors in $5.6 billion New York deal