October 9, 2008

GM looking to refinance Detroit headquarters

Reuters
General Motors Corp is looking for support from Detroit city pension officials to refinance its Detroit headquarters and could possibly sell it, but has no plans to move from the iconic building.

GM is meeting with Detroit's police and fire pension board this week to seek money for the building known as the Renaissance Center, GM spokesman Tom Wilkinson said Tuesday.

"We have been looking for options to monetize the asset," Wilkinson said. "This particular deal is probably a long shot because the deal we'd like to do on the building is way more than they would typically have to invest."

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