Morgan Stanley buys Hang Seng Building

The $290 million investment adds Hang Seng BankÆs Central headquarters to Morgan StanleyÆs Hong Kong property portfolio.

Morgan StanleyÆs newest opportunisticvalue added real estate fund, MSREF V International, has signed contracts to buy Hang Seng BankÆs Hong Kong headquarters building, a 23-floor office building located at 77 Des Voeux Road in Central for $290 million.

The $4.2 billion fund has again joined forces with local partners Pamfleet, with whom it worked in the Vicwood Plaza deal in CentralSheung Wan. It sold that building for an estimated $300 million to Macquarie, nearly tripling its $108 million...

To continue reading, please login or register for free

Click for more on: morgan | stanley | hang | seng

Print Edition

FinanceAsia Print Edition