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Sign in Sign up for a FREE subscriptionCanadian investor considers $2b Shanghai property buy, largest foreign investor purchase
Brookfield Strategic Real Estate Partners III, a fund managed by Brookfield Asset Management, has plans to buy a commercial property site in Shanghai for approximately $2 billion, according to media outlets, citing people familiar with the matter.
The seller is a unit of Greenland Hong Kong Holdings. The acquisition consists of three office towers and a retail mall at Greenland Huangpu Center.
If completed, it would be the largest purchase in Shanghai made by a foreign investor, topping Singapore-based CapitaLand Ltd. and GIC Pte paying $1.9 billion in November for Shanghai’s tallest twin towers, which was Shanghai’s largest commercial property deal involving a foreign investor at the time, according to CBRE.
