The iconic art deco skyscraper reportedly would be acquired from TMW -- the German arm of an Atlanta-based investment fund. Tishman Speyer Properties owns the remaining 25% of the building.
The possible acquisition would be the second high-profile real estate deal in the Big Apple involving a sovereign wealth fund, which have made sizable investments in various U.S. assets over the last year. A group of investors including the wealth funds of Kuwait and Qatar, and Boston Properties Inc. on June 2 acquired the GM Building for $3.95 billion from Harry Macklowe.
If the deal closes, it certainly won't be the last real estate deal involving a sovereign wealth fund. With real estate valuations softening in some U.S. markets, expect these government-controlled funds -- especially from the Middle East -- to continue acquiring U.S. real estate. - Gerald Magpily
See New York Post article
See TheDeal.com: GM building sale sets record
Overseas profits from oil are coming back home, sort of. Sovereign wealth fund Abu Dhabi Investment Council is in the midst of acquiring a 75% stake in the Chrysler Building in New York City for around $800 million, 
