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Jul 20, 2008 7:49 am US/Eastern
Giuliani Firm Branching Out Into Real Estate
NEW YORK (AP) ―
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Republican U.S. presidential hopeful and former New York City Mayor Rudolph Giuliani reacts as he is interviewed during a taping of "Meet the Press" at the NBC studios Dec. 9, 2007, in Washington, D.C.
Alex Wong/Getty Images
Rudy Giuliani's firm is diversifying into real estate.
The former mayor's company is planning an investment fund based on commercial and residential properties in New York and Washington.
People involved in the real estate venture say the fund will focus on luring foreign investors attracted by the continuing weakness of the dollar.
Giuliani's company will form a partnership with Berman Enterprises, a family-owned company based in Rockville, Md.
The minimum threshold for an investor to take part in the real estate fund will be $25 million.
Giuliani was largely absent from his firm, Giuliani Partners, while he was running for the Republican nomination for president.
(© 2009 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)
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