Two Mideast Firms Drive Barneys Bidding Into Billions

WWD is reporting that two investment firms from the Middle East could drive the bidding for Barneys as high as $1.8 billion. We're not so familiar with the Qatar Investment Authority, but the other, Istithmar (a royal-family owned firm from Dubai) has been all over New York lately.


In April 2006, it acquired Six Times Square for $300 million. Two months later, it purchased 280 Park Avenue for $1.2 billion from Boston Properties. It capped off the summer of 2006 by purchasing 450 Lexington Avenue in August for $600 million.

Not wanting to limit itself to one particular niche, Istithmar also bought the W Hotel Union Square for $285 million in October and the former Knickerbocker hotel in Times Square for $300 million in June.



Article continues below
More from Politics
Mayor Bill de Blasio huddles with his former counsel Maya Wiley.
De Blasio Says ‘Going Forward’ He Won’t Hide Conversations With Private Consultants