Middle East investors drawn by US property as returns lag at home
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New York
THE boarded-up building sat vacant on a tattered block in San Francisco until a small New York developer and a Kuwaiti real estate partner snapped it up in April 2014, attracted by the proximity to Twitter and other tech companies.
Over the next 18 months, New York's Synapse Development Group worked to win approval to redevelop the 1904 landmark on Market Street into a 203-room hotel run by London-based Yotel.
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