Chrysler Bldg. sold to Abu Dhabi

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Chrysler Bldg. sold to Abu Dhabi

uphaus 07-09-2008, 7:51 AM | Post #2537096 | 2 Replies

http://www.bloomberg.com/apps/news?pid=20601087&sid=aACZuFPo8cf8&refer=home

Nice way to recirculate petro dollars. :-) Bob U.

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Re: Chrysler Bldg. sold to Abu Dhabi

syplatt 07-09-2008, 8:56 AM | Post #2537120

The Japanese didn't seem to know what they were doing when they bought all that real estate in the '90s. I wonder if the Abu Dhabians do.

Is this good, bad, or indifferent for the U.S.?

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Re: Chrysler Bldg. sold to Abu Dhabi

raywax 07-09-2008, 10:48 AM | Post #2537143

Was the Japanese purchase of prime office property some 20 years ago good or bad for us? I don't see how it was bad for us; ended up being bad for Japanese banks.

Remember when Abu Dhabi bought into Citi Bank for the first time last year (think it was in 2007 but could have been early in 2008). I would say now looking back at what they paid, it was good for Citi but poor for Abu Dhabi. How will in work out in the long run, I have no idea. But hopefully Citi Bank will still be in existence and making money and AD will also be pumping oil and fleecing other Mid Eastern Sheiks!

Ray