The Wall Street Journal / October 18th, 2016
Wall Street Journal reports: A Kuwait-based financial-services firm seeking more diversity in a world awash in cheap oil is paying $107 million for a new Cincinnati office building occupied by General Electric Co. in its biggest real-estate investment in the U.S.
KAMCO Investment Co.’s purchase of the new development, named General Electric @ The Banks, is a sign that a new cadre of foreign investors is playing a bigger role in U.S. commercial real estate, even in smaller markets like Cincinnati.
The deal comes at a tricky time for U.S. commercial real estate. Overall U.S. sales volume was down 12.2% from last year to $299.1 billion as of the end of August, according to data firm Real Capital Analytics.
View the full article in The Wall Street Journal: Kuwait Firm Expands With GE Office Deal in Ohio