Mideast Investors Looking at Select United States Properties

Kuwaiti investors are backing a new public commercial real estate investment company in New York called Eastbridge Al Mal Holdings Ltd. The new company, which will have offices in Dubai and Kuwait as well as New York, will seek to invest in what it describes as high-quality income-producing properties in major U.S. cities. It plans to invest through local operating partners who requirement additional equity capital for direct real estate investments, debt and securities. Rick H. Singer is the company's chief executive officer in charge of all real estate entities and a founding partner. Mr. Singer was at one point the head of global real estate at Wall Street firm Salomon Brothers for 10 years and held senior leadership positions at several other investment firms. The company will initially be focused on the energy sector.