Carlyle buys Shanghai office tower from Singapore’s Forterra
The Carlyle Group has paid $267 million for Central Plaza, a Shanghai office building owned by Singapore real estate fund Forterra Trust. The deal is further confirmation of private equity firms’ appetite for commercial real estate in China, coming a few months after The Blackstone Group acquired Huaming Imperial Building, also in Shanghai.
Forterra said in a regulatory filing that the price represented an 8.5% discount on the building's market value of RMB1.8 billion ($290 million). It has owned Central Plaza since June 2007 and expects...
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