Transactions - FEBRUARY 8, 2016

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China Everbright to buy Hong Kong tower for $1.3b

by Andrea Waitrovich

China Everbright Group is bidding for the Dah Sing Financial Center, a 38-story tower in Hong Kong’s Wanchai submarket. The seller is SEA Holdings, which occupies 90 percent of the property. 

An official statement has not been released; however, the sales price is estimated to be more than $1.3 billion.

The takeover price would be the second-highest among commercial property purchases in Hong Kong if the deal closes. This would be the third large deal in Hong Kong by companies based in mainland China within three months if the deal was closed. At the end of 2015, Evergrande Real Estate bought the MassMutual Tower in Wanchai for $1.9 billion.

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