AIG building in New York has been bought by Korean consotium at the price of US $150 million on 27/08/09(final settlement) and at present its valuation price is US $400 million (alsmost 3 times).
This is one of remarkable story of US commercial building's recovery in price.
In respect of above story, many REITs have lost some billion dollars (mainly by asset devaluation) during recent finiancial crisis however if tide turns changing, they could earn billion dollars easily by asset revaluation IMO.
Regards,
very interesting episode
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