Soho China buys Shanghai property from Morgan Stanley fund

Beijing-based commercial property developer Soho China makes its first investment in Shanghai, buying a 52-storey office building from MSREF for Rmb2.45 billion.

Soho China, the Beijing-based commercial property developer, has made its first move into Shanghai with the purchase of a 52-storey office and retail building from Morgan Stanley's real estate investment arm. According to a release issued yesterday, Hong Kong-listed Soho China will buy the company that owns the property at a total cost of Rmb2.45 billion $359 million plus an amount equal to the working capital held by the company when the deal closes.

Cash-rich Soho China has been pondering...

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