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Friday, July 11, 2008

Foreign Investors Pile Up More Pieces of Americana by LANDON THOMAS Jr. FROM The New York Times

The hunt for the great American trophy asset is on.

The global commodities boom and the dollar’s decline have unleashed a wave of big money buys of prized American assets by newly flush foreign investors.

From $100 million mansions in Palm Beach, Fla., to $23 million modern art confections, to multibillion-dollar stakes in once-venerated Wall Street banks, the number of flashy acquisitions by Russian and Ukrainian oligarchs, Qatari sheiks and large government-sponsored funds in the Middle East is growing.

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