Yuexiu Makes $1.4B Deal To Sell Chinese Skyscraper Into REIT

Law360, New York (May 29, 2012, 2:13 PM EDT) -- Chinese real estate developer Yuexiu Property Co. Ltd. has sold the 10th-tallest skyscraper in the world, a commercial tower in Guangzhou, into its affiliated real estate investment trust for $1.4 billion, Yuexiu said Monday.

Yuexiu Property will sell the Guangzhou International Finance Center to Yuexiu Real Estate Investment Trust, which will take on nearly $1.4 billion in debt to finance the deal, the Hong Kong-based company said.

In a related filing with the Hong Kong Stock Exchange, Yuexiu Property said its REIT will assume a 99...
To view the full article, register now.