Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Bush Family Friend & UAE Sultan Sulayem's Purchase of Helmsley above Grand Central Terminal
opinion | 2/27/2006 | brianbaldwin

Posted on 02/27/2006 4:26:48 PM PST by Brian_Baldwin

Dubai investment group buys midtown landmark

Friday, November 11, 2005
By Aleksandrs Rozens
Associated Press

NEW YORK - A Dubai-based investment firm Thursday said it has purchased 230 Park Avenue, a 34-story office high-rise in midtown Manhattan. The property, commonly known as the Helmsley Building, sits above Grand Central Terminal's underground commuter train and subway complex.

The buyer, Istithmar PJSC, purchased the building for $705 million. The seller was 230 Park Avenue Investors LLC, of which Robert Bass of Fort Worth Texas is a lead investor.

Current tenants include ING Baring, Tokio Marine and the Bank of Argentina. The building may get a new name that makes reference to the building's new owners. Istithmar's purchase was financed by Credit Suisse First Boston. The Dubai investment company paid less than 20 percent of the purchase price as a down payment.

This is Istithmar's first investment in the U.S. commercial-property market. The firm recently purchased a site in London's Trafalgar Square and has looked at properties in Paris.


TOPICS: Foreign Affairs; Your Opinion/Questions
KEYWORDS: bravosierra; brianbaldwin; missinglink; nyc; sapperinthewire; uae
Navigation: use the links below to view more comments.
first previous 1-2021-4041-56 last
To: Bookmark

I understand. Be safe.


41 posted on 02/27/2006 5:21:35 PM PST by gathersnomoss
[ Post Reply | Private Reply | To 38 | View Replies]

To: Sweetjustusnow
Interesting, that is my title now? "Globalist"?
Nope, Nationalist.. I doubt you've heard all our arguments.. let me guess, 'The UAE has changed'? 'They are our friend'?
Nope.. did you know that DPI isn't really owned 100% by the UAE? Did you know that DPI's Board of Directors includes Americans, Brits, Norwegians, Indians, and only two UAE nationals? Did you know that financial firms such as Deutsch bank actually own up to 49% of DP World's holdings- including voting rights? Did you know that DP World is a conglomeration of two companies, DPA (Dubai Port Authority)- 100% owned by the UAE and DPI (Dubai Ports International) owned by international investors (mostly European allies).. most commentators are mischaracterizing DP World (the combined operating entity) as being owned by UAE simply by only looking at DPA's ownership structure, even though DPA only has operational control in the UAE and three other middle eastern countries??????


There is so much BS going around about this deal in the MSM it isn't even funny and it completely clouds anyone from thinking about the strategic interests behind the deal...


.
42 posted on 02/27/2006 5:22:54 PM PST by mnehring (http://abaraxas.blogspot.com/.)
[ Post Reply | Private Reply | To 39 | View Replies]

To: Ben Ficklin

The Bass Family and the Bush family go back a long ways...

Robert Bass was one of President Bush's Team 100 members. I think he also invested in the Rangers when that deal was put together.... Also you'll find lots of 'tin foil' stuff with several oil investments involving the President.

Heck when you are a billionaire you have to invest in something.


43 posted on 02/27/2006 5:25:07 PM PST by deport
[ Post Reply | Private Reply | To 27 | View Replies]

To: deport

That still doesn't make him a partner with the Sultan, unless the AP got the facts wrong.


44 posted on 02/27/2006 5:33:01 PM PST by Ben Ficklin
[ Post Reply | Private Reply | To 43 | View Replies]

To: mnehrling

"completely clouds anyone from thinking about the strategic interests behind the deal..."

That my dear, is the only thing that was right in your post.


45 posted on 02/27/2006 5:35:16 PM PST by Sweetjustusnow (Oust the IslamoCommies here and abroad.)
[ Post Reply | Private Reply | To 42 | View Replies]

To: onyx
"Call Rush, ask him to explain it to you."
Rush Limbaugh is a pompous self promoting blowhard who has his head so far up Bushs butt that he can't bear to come up with one thing he disagrees with him on. It's EEBBF (Everyone Else But Bush's Fault) with him. Talk about dinosaur media.
46 posted on 02/27/2006 5:39:48 PM PST by afz400
[ Post Reply | Private Reply | To 11 | View Replies]

To: Ben Ficklin

http://www.allbusiness.com/periodicals/article/599946-1.html

230 Park Avenue is sold for $705m.

From Real Estate Weekly: Oct 19, 2005 issue

Monday Properties may not have triumphed in its bid to purchase 230 Park Avenue, which was sold this week for $705 million to Dubai's crown prince Sheikh Mohammed Bin Rashid Al Maktoum, but it may still get an equity interest.

The firm, along with real estate securitization company Island Capital, acted as advisors to the Sheikh in the tightly contested bid for the 1.4 million s/f property and both could be given an ownership interest by the time the sale closes, sources familiar with the deal say.

Contrary to published reports, the Sheikh currently is the sole purchaser of the asset.

Monday has been the manager and leasing agent for 230 Park Avenue since 1999 when real estate investor, Robert Bass, purchased the property for $250 million.

Bass, who was the seller in the recent transaction, sold nearby 237 Park Avenue to Monday Properties in 2003, and it was no secret that Monday desired 230 Park Avenue as well. But when the property's price climbed into the stratosphere and out of Monday's range, the firm used its relationship with Bass and intimate knowledge of the asset to help give the Sheikh the inside track, according to sources.

In addition to its potential ownership stake, Monday Properties will continue to operate 230 Park Avenue.

The building is home to several high profile financial tenants, including insurance giant, Swiss Re, and investment bankers, ING.

The Sheikh has been an active investor in the US recently. In July his Dubai Holdings Group purchased the 605-room Essex House hotel in Manhattan for $400 million. Earlier this year, DIG, an affiliate of Dubai Holdings, became one of the largest residential property owners in the US with its purchase of a $1 billion multi-family portfolio in partnership with The Milestone group.

CBRE's Darcy Stacom and Bill Shanahan handled the sale for Bass.


47 posted on 02/27/2006 5:53:24 PM PST by Rte66
[ Post Reply | Private Reply | To 44 | View Replies]

To: Ben Ficklin

That still doesn't make him a partner with the Sultan, unless the AP got the facts wrong.



I agree with that..... I was only pointing out that someone with the wealth the Bass family has makes investments all over.


48 posted on 02/27/2006 5:55:43 PM PST by deport
[ Post Reply | Private Reply | To 44 | View Replies]

To: Sweetjustusnow
I don't want foreign companies to control our ports or anything else that is important to this country.These greedy politicians would put a for sale sign on anything to make a buck.Someday the majority of real estate and business in America will be owned and controlled by foreign governments.There are some things that shouldn't be for sale.
49 posted on 02/27/2006 6:07:42 PM PST by rdcorso (There Is No Such Thing As A Neutral Person During A War With Radical Islam.)
[ Post Reply | Private Reply | To 39 | View Replies]

To: Brian_Baldwin
a government holding company whose portfolio is overseen by Dubai's leader, Sheik Mohammed Bin Rashid Al Maktoum. This is a man who runs horse racing stables and is addicted to gambling and corruption

Here is the Sheik in Dubai consorting with a shady character.

They are looking over a couple of chics they are interested in.


50 posted on 02/27/2006 6:16:51 PM PST by Capt. Tom (Don't confuse the Bushies with the dumb Republicans - Capt. Tom)
[ Post Reply | Private Reply | To 1 | View Replies]

To: afz400; M. Thatcher

And you have how many listeners each day?

I'll stick with Rush who prides himself on accuracy.


51 posted on 02/27/2006 6:32:27 PM PST by onyx (IF ONLY 10% of Muslims are radical, that's still 120 MILLION who want to kill us.)
[ Post Reply | Private Reply | To 46 | View Replies]

To: deport
"the Bass family has to make investments all over"

Like the Biosphere in Arizona.

52 posted on 02/27/2006 6:47:15 PM PST by Ben Ficklin
[ Post Reply | Private Reply | To 48 | View Replies]

To: Bookmark

Welcome to FR. You'll love it here. Of course, you'll probably get a lot of acid reflux from time to time. Welcome.


53 posted on 02/27/2006 6:55:25 PM PST by processing please hold (Be careful of charity and kindness, lest you do more harm with open hands than with a clinched fist)
[ Post Reply | Private Reply | To 20 | View Replies]

To: Brian_Baldwin
You know, Brian; despite everything I gotta call NB4ZOT. Not to be rude, nor harsh. I myself am not a fan of what is happening with our borders. Islamo-fascist nuts p!ss me off. I will never submit my family to dhimmitude. Yet I must disagree. There are more of us that will vehemently deny oppression than most realize. I have worked outcountry. People sent me the book of koran, or whatever it is called. The UAE could never deny me the personal comprehension of scripture. And so, you and yours recommend that me and mine submit. In order to remain within the guidelines and constraints of this site, I am compelled to request that you and your minions submit to Our Lord and Savior Jesus Christ. Or not. Redemption is still granted, and given.
54 posted on 02/27/2006 7:13:24 PM PST by ARealMothersSonForever
[ Post Reply | Private Reply | To 1 | View Replies]

To: Bookmark

You may learn.
Or you may burn.
NB4ZOT


55 posted on 02/27/2006 7:16:20 PM PST by ARealMothersSonForever
[ Post Reply | Private Reply | To 20 | View Replies]

To: Brian_Baldwin

Threadkill #1,328


56 posted on 02/27/2006 7:19:19 PM PST by ARealMothersSonForever
[ Post Reply | Private Reply | To 1 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-56 last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson