zerohedge
tyler durden 8/9/18
[excerpt]
https://www.zerohedge.com/news/2018-08-09/trump-set-seize-stake-china-owned-building-midtown-manhattan-reportIn what would mark an abrupt and serious escalation of the US-China trade and currency war - if true - is a report from the NY Post according to which the Trump administration, as part of a crackdown on certain US investments made by Chinese companies, is set to seize a majority stake in 850 Third Ave. The stake is owned by HNA, the reeling, quasi-insolvent Chinese conglomerate whose Chairman died in a freak accident in Italy one month ago, and its US partner in the building is desperate to save it.
The "strike" on the HNA building, which is located between East 51st and 52nd streets, has been in the works for months according to the Post and "is believed to be the first move by the Trump White House since Congress on Aug. 1 approved expanded authority of CFIUS — the Committee on Foreign Investors in the United States."
“This is coming from the White House,†said a source said of the seizure that could ultimately force the sale of HNA’s stake in the 575,000-square-foot building. As a reminder, as part of the CFIUS expansion, it now has purview over foreign real estate interests.
