Time Warner Sells HQ for $1.3B, Plans Move to Hudson Yards

Source:  CoStar

In the latest example of foreign capital’s willingness to swoop in to pick off U.S. trophy assets, funds from Singapore and United Arab Emirates have joined Related Cos. in paying $1.3 billion for Time Warner Center, a 1.1 million-square-foot office property in Manhattan. The investment also includes a huge vote of confidence in the prospects of Hudson Yards. Media conglomerate Time Warner Inc. announced it will lease back space from the Related...

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