soho-china-buys-shanghai-property-from-morgan-stanley-fund

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 an expansion into Shanghai for some time and said the location of, and easy access to, this property at the heart of Nanjing Road West CBD in the city's prosperous Jing'an business district were compelling...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222