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GIC Pte Ltd, partners to buy $1.3 bln Time Warner Inc's office space-Reuters

Friday, 17 Jan 2014 12:33am EST 

Time Warner Inc:GIC Pte Ltd is partnering a group of investors to buy $1.3 billion worth of Manhattan office space from Time Warner Inc, as the sovereign wealth fund steps up its purchases of real estate where it sees increasing value-Reuters.The consortium will lease the office space until early 2019 to Time Warner, which is moving all its business units from HBO to CNN under one roof at the Hudson Yards development to save money.