John Paulson invests once again in Puerto Rico
Aug. 15, 2014
SAN JUAN, Puerto Rico (AP) — New York hedge fund billionaire John Paulson has made another high-profile purchase in Puerto Rico, which is pushing to attract more investors to the U.S. territory.
His investment firm announced Friday that it bought American International Plaza from the, original developer AIG. The 326,000-sq. foot (30,286-sq. meter) building is located in the Hato Rey district of San Juan and houses companies including UBS, KPMG and Charles Schwab.
Paulson & Co. Inc. declined to reveal details of the deal.
Paulson previously bought several upscale resorts in Puerto Rico as well as land parcels for future development.
Puerto Rico is seeking to attract high-end investors to help boost the economy as it enters its eighth year in recession.