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Jan 31, 2013

Exclusive: Time Warner kicks off possible sale of NY headquarters

NEW YORK (Reuters) – Time Warner Inc is considering selling its New York headquarters and has asked real estate brokers to evaluate the building’s value, in a move that could see it relinquish one of the last vestiges of its disastrous merger with America Online, two sources said.

One source said on Wednesday that the company could still hang on to its portion of the Time Warner Center, a complex that Chief Executive Jeff Bewkes once called an “indulgence.”

Jan 30, 2013

Exclusive: Time Warner asks brokers for value of New York headquarters

NEW YORK (Reuters) – Time Warner Inc is considering selling its New York headquarters and has asked real estate brokers to evaluate the building’s value, according to two sources familiar with the situation.

The company is considering a wide range of options, including selling the midtown Manhattan building and leasing it back, moving more employees into the building and closing other New York offices, or moving out from the building entirely, one source said on Wednesday.

Jan 30, 2013

Exclusive: Time Warner asks brokers for value of N.Y. HQ

NEW YORK (Reuters) – Time Warner Inc is considering selling its New York headquarters and has asked real estate brokers to evaluate the building’s value, according to two sources familiar with the situation.

The company is considering a wide range of options, including selling the midtown Manhattan building and leasing it back, moving more employees into the building and closing other New York offices, or moving out from the building entirely, one source said on Wednesday.

Jan 30, 2013

Time Warner asks brokers for value of N.Y. HQ

NEW YORK, Jan 30 (Reuters) – Time Warner Inc is
considering selling its New York headquarters and has asked real
estate brokers to evaluate the building’s value, according to
two sources familiar with the situation.

The company is considering a wide range of options,
including selling the midtown Manhattan building and leasing it
back, moving more employees into the building and closing other
New York offices, or moving out from the building entirely, one
source said on Wednesday.

Jan 29, 2013

Empire State Building investors go to court to stop deal

NEW YORK, Jan 28 (Reuters) – A group of investors in the
company that owns the Empire State Building filed a motion on
Monday to block a proposed settlement of a lawsuit against a
group looking to create a public company with the historic
building as its centerpiece.

Several investors in Empire State Building Associates
(ESBA), which owns the building, said their skyscraper and
investment are vastly different than the other properties
involved in the settlement. As such, they believe they should
not be bound by the proposed settlement.

Jan 28, 2013

General Growth buys warrants from Blackstone, Fairholme

NEW YORK (Reuters) – General Growth Properties Inc (GGP.N: Quote, Profile, Research, Stock Buzz), the No. 2 U.S. mall owner, said on Monday it purchased warrants from The Blackstone Group (BX.N: Quote, Profile, Research, Stock Buzz) and Fairholme Funds Inc for $633 million, leaving its main investor, Brookfield Asset Management Inc as the only holder of warrants.

The warrants were exercisable into 52 million General Growth common shares at a weighted average exercise price of about $9.37 per share, General Growth said. The warrants were scheduled to expire in November 2017. The sale means Blackstone and Fairholme no longer hold any warrants to acquire General Growth’s common shares.

Jan 22, 2013

Empire State Building investors to vote on first step to IPO

NEW YORK, Jan 22 (Reuters) – The company that controls the
Empire State Building has asked investors to approve a key step
in selling the iconic New York skyscraper to the broader public
in an initial offering.

Malkin Holdings LLC, which manages the building, is asking
investors to approve transferring ownership to a company that
can then go public.

Jan 22, 2013

Empire State Building investors to vote on REIT proposal

NEW YORK (Reuters) – The company that controls the Empire State Building has begun asking investors to vote on a plan to fold the iconic building into a new real estate investment trust (REIT) that will eventually be publicly traded, according to regulatory documents filed Tuesday.

Malkin Holdings LLC is asking investors in one of the world’s most recognizable buildings to vote on the plan to make the building the centerpiece of more than 18 properties in Empire State Realty Trust Inc, according to a filing with the U.S. Securities and Exchange Commission.

Jan 7, 2013

Exclusive: Property investors keen on U.S. and Turkey

NEW YORK (Reuters) – The United States dominates the list of places that global commercial real estate investors would prefer to put their money this year, while China has lost some luster and Turkey has added sparkle, according to a survey of international investors.

For the first time since 2001, four of the top five cities that investors said they favor were in the United States, according to an annual survey that the Association of Foreign Investors in Real Estate (AFIRE) released Monday.

Jan 7, 2013

Exclusive: Property investors keen on U.S., Turkey; China stumbles: survey

NEW YORK (Reuters) – The United States dominates the list of places that global commercial real estate investors would prefer to put their money this year, while China has lost some luster and Turkey has added sparkle, according to a survey of international investors.

For the first time since 2001, four of the top five cities that investors said they favor were in the United States, according to an annual survey that the Association of Foreign Investors in Real Estate (AFIRE) released Monday.