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Shanghai tower sells for $422m

by Andrea Waitrovich

ARA Asset Management Group has purchased the BEA Finance Tower from developer Gaopeng for $421.9 million.

BEA Finance Tower is located in the heart of the Lujiazui financial district. The 42-story office tower totals 441,324 square feet.

In September, ARA paid $447.7 million for the Platinum Tower, located in Shanghai. The seller was CSI Properties.

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