The Real Deal - New York Real Estate News

KKR to buy Japanese real estate asset manager for $2B

Posted: 19 Mar 2022 12:00 PM PDT

Private equity giant KKR is paying $2 billion to buy Japan’s Mitsubishi Corp-UBS Realty in an all-cash deal that bolsters its assets by a third and deepens its presence in Japan. KKR is buying the Tokyo-based real estate asset manager from Mitsubishi of Japan and UBS Asset Management of Switzerland, according to an SEC filing by the company. The transaction is expected to close in April. The Japanese joint venture, formed in 2000, is a

A $5B electric truck factory hits roadblocks in rural Georgia

Posted: 19 Mar 2022 09:00 AM PDT

A $5-billion electric truck factory proposed for rural Georgia has hit political headwinds. California’s Rivian Automotive unveiled plans in December for a 2,000-acre factory east of Atlanta that would create 7,500 jobs and crank out 400,000 emissions-free trucks a year, the New York Times reported. Now it’s mired in a partisan battle. On one side are the EV start-up and state Governor Brian Kemp, a Republican who championed the factory as an economic boon that

Here’s how — and why — Russian billionaires started investing in Manhattan real estate

Posted: 19 Mar 2022 08:22 AM PDT

So just why did all those Russian oligarchs end up investing in Manhattan real estate, anyway? That question is tackled in a big way by Adam Piore, the author of The Real Deal’s soon-to-be-published “The New Kings of New York, Renegades, Moguls, Gamblers and the Remaking of the World’s Most Famous Skyline” in a Newsweek article that breaks down the who, what, where, when and whys of how skyline-altering developments that resulted in the likes

Foxconn in talks with Saudi Arabia to build manufacturing plant

Posted: 19 Mar 2022 06:00 AM PDT

Saudi Arabia is in talks with Taiwan’s Foxconn, the largest assembler of Apple iPhones, to jointly build a $9 billion factory as it tries to diversify its economy away from oil. The plant would make microchips, electric-vehicle components and electronics, the Wall Street Journal reported, citing unidentified people. The Saudi kingdom is reviewing an offer from the firm, formally known as Hon Hai Precision Industry, to build it in Neom, a desert city-state that has