LONDON — When the Abu Dhabi Investment Authority bought two slightly tired shopping centers in Slough, U.K., for £130M in 2016, it was a bit of a head-scratcher.
First, shopping centers. Even in 2016, before things got really bad in retail, global investors like ADIA were selling rather than buying shopping centers.
And Slough? In the past few years ADIA has been buying and building in Paris, New York and other global gateway cities. Slough, a town of 161,000 people about half an hour west of London — a town known as the unsexy setting of the U.K. version of "The Office" — felt a little off-pitch.
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