With plenty of cash on hand, the world largest ecommerce company Amazon.com decided to buy several office buildings in Seattle. Instead of being as a renter, now Amazon is a landlord. The seller is a real estate company owned by Microsoft co-founder and billionaire Paul Allen, known as Vulcan Real Estate.
According to seattletimes.com, Vulcan Real Estate made a huge profit of selling those office buildings to Amazon. The local newspaper believes that Vulcan Real Estate had paid about $700 million to design and build those buildings and constructions started in 2008. As Vulcan now sold those buildings to Amazon.com for about $1.2 billion, or making about 65% profit.
As building inspectors will checking out all those buildings and hope to satisfy all conditions. The closing date is expected to occur in Q4 2012 (October-December 2012).
By being a property owner, Amazon is now creating a stronghold in the city of Seattle while at the same time making the ecommerce king long-term commitment to the Northwest region.
Real estate is good source for investment. Many people invested in real estate projects for profit and better lifestyle. In this blog gave information about investment in real estate property is profitable.
Posted by: Shah Kingdom In Navi Mumbai | December 20, 2012 at 11:52 PM
When he asked his boss why he was offered the job, he was told that he had a "good attitude." Allan was quite pleased that he took the time to read the pop-up that changed his life.
Posted by: replica watches uk | October 15, 2012 at 03:23 AM