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GIC buys billion-dollar US headquarters of Deutsche Bank on Wall Street

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GIC, Singapore's sovereign wealth fund, has bought a 95 per cent stake in 60 Wall Street, a 47-storey tower in New York City's financial district of lower Manhattan that serves as the US headquarters of Deutsche Bank.

[SINGAPORE] GIC, Singapore's sovereign wealth fund, has bought a 95 per cent stake in 60 Wall Street, a 47-storey tower in New York City's financial district of lower Manhattan that serves as the US headquarters of Deutsche Bank.

The deal values the 1.6 million-square-foot (148,600-square-metre) skyscraper at US$1.04 billion, or about US$640 a square foot, GIC and seller Paramount Group said in a joint statement on Wednesday.

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