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GIC venture buys space in Time Warner Center

It will lease the 1.1m sq ft of space back to Time Warner till 2019

Published Fri, Jan 17, 2014 · 10:00 PM

Singapore

GIC has sealed a deal to buy office space in New York City's Time Warner Center with two partners, the Abu Dhabi Investment Authority (ADIA) and US real estate firm Related Companies, for US$1.3 billion.

The partnership, which is buying the 1.1 million square feet of space from media giant Time Warner Inc, will then lease it back to Time Warner until early 2019.

GIC declined to reveal its stake in the venture and…

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