Investcorp buys $1.4bn New York property
Bahrain-based investment bank Investcorp said on Saturday it had bought an office property in New York for $1.4 billion from Dubai state investment agency Istithmar.
The offices are leased to 37 tenants including Deutsche Bank, Credit Suisse First Boston and GE Capital, and the property is home to Investcorp's New York offices.
"The real estate market in New York, especially that for office space, is very active and has achieved attractive returns due to increasing demand coupled with scarce availability," Investcorp Managing Director Mazin Al Khatib said in a statement....MORE
