Deals
Qatar Wealth Fund Buys 9.9% Stake in Empire State Building Owner
- Acquisition translates into new $622 million REIT investment
- QIA in June bought Asia tower from BlackRock for $2.5 billion
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Qatar Investment Authority, the Middle Eastern country’s sovereign wealth fund, bought almost 10 percent of Empire State Building owner Empire State Realty Trust as it boosts investments in North America and the Asia Pacific region.
The fund acquired 29.6 million newly issued Class A common shares at $21 each and will have a 9.9 percent economic and voting interest in the real estate investment trust. The acquisition translates into a new $622 million investment in Empire State Realty, the company said in a statement on Tuesday.