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Anbang Seizure Whets Buyers' Appetites for Buildings Across U.S.

  • Blackstone sold assets to Chinese firm, is potental buyer too
  • Properties include Strategic hotel portfolio, 717 Fifth Ave.
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China Regulators to Take Control of Anbang Insurance

With the temporary takeover of Anbang Insurance Group Co. by China’s government, real estate buyers are eyeing marquee properties from New York to California acquired in a global shopping spree.

The insurer, like its fellow Chinese investor HNA Group Co., went on a multibillion-dollar buying binge over the past few years, grabbing properties including Manhattan’s Waldorf Astoria hotel, which it acquired three years ago for a record $1.95 billion, and Strategic Hotels & Resorts, a luxury-lodgings owner with locations in San Francisco, Chicago and New York. Other purchases included 717 Fifth Ave. in New York, a 26-story office building that’s home to Anbang’s U.S. headquarters.