Related Companies is preparing to buy Time Warner's headquarters on Columbus Circle, and the developer turned to foreign friends to finance the $1.3 billion buy. The Abu Dhabi Investment Authority and the Government of Singapore Investment Corp. will finance 80 percent of the purchase, becoming majority owners in the venture, while Related will manage the building. Time Warner will lease their current space for five years, then move to a new tower in Related's Hudson Yards megaproject. [WSJ; previously]
Filed under:
Loading comments...