Crazy George's Going-Out-of-Business Sale: ALL ASSETS MUST GO!...NY's Chrysler Blgd.

Abu Dhabi fund snaps up NY's Chrysler Building
Wed Jul 9, 12:04 PM ET



NEW YORK (AFP) - The Abu Dhabi Investment Council has bought the landmark New York skyscraper, the Chrysler Building, for 800 million dollars, sources close to the deal said Wednesday.

Media reports had said the Abu Dhabi Investment Council, an investment fund based in the United Arab Emirates, had been holding negotiations with a subsidiary of Prudential Financial Inc. over its 75 percent stake in the renowned Art Deco building.

"We have sold our stake of 75 percent on Tuesday," Prudential spokeswoman Theresa Miller said.

The 77-story Chrysler Building, one of New York's best-known skyscrapers, is 25-percent owned by Tishman Speyer Properties, a privately held New York real estate firm.

The secretive Abu Dhabi Investment Council has over 800 billion dollars of assets under management and made a 7.5-billion-dollar investment in Citigroup, one of America's biggest financial institutions, last November. ......(more)

The complete piece is at: http://news.yahoo.com/s/afp/20080709/wl_mideast_afp/usuaepropertyinvestment_080709160401

"secretive investment council"-sounds like Cheney's "energy Task Force".