Carlyle Unit Puts Up $267M For Shanghai Office Tower

Law360, New York (April 10, 2013, 4:28 PM EDT) -- A holding company backed by private equity giant Carlyle Group LP will pick up a Shanghai office building, Central Plaza, in a $267 million deal that lifts ownership from Chinese real estate developer Forterra Trust, according to a Wednesday securities filing.

The sale price represents roughly an 8 percent discount to the property's appraised value at the end of 2012. Carlyle beat out other prospective buyers from China and abroad to seal the deal, thanks to its reputation in the marketplace and its deep reserves, the...
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