Foreign investors snapping up iconic US office buildings

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This year foreign investors have bought the U.S. Bank Tower in Los Angeles, the West Coast’s tallest office building; the tallest tower in Minneapolis; and acquired a 40 percent stake in New York’s General Motors Building, valued at $3.4 billion.

The high-profile property purchases help illustrate a reported 25 percent year-over-year leap in commercial property investment from foreign investors, Bloomberg reported.

Investors are reportedly entering the commercial market because it’s improving and offers significantly higher yields than safer assets like U.S. Treasuries. Source: Bloomberg