Tuesday August 18, 10:36 AM
SOHO buys M.Stanley China property for $359 mln-sources
HONG KONG, Aug 18 (Reuters) - Developer SOHO China has agreed to acquire a top Shanghai office building owned by the real estate investment arm of Morgan Stanley (NYSE: MS - news)
for 2.45 billion yuan ($359 million), sources said on Tuesday.
Reuters reported earlier this month that Morgan Stanley Real Estate was in advanced talks with SOHO China (0410.HK - news) for the sale of The Exchange, a building on Shanghai's historic Nan Jing Road. (For details:)
The deal is expected to be announced by SOHO China late on Tuesday, said the sources who declined to be identified before an official announcement is made.
Both SOHO and Morgan Stanley declined to comment.
($1=6.833 Yuan)
(Reporting by George Chen and Joy Leung, Editing by Jacqueline Wong)
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