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.