Hong Kong trust to acquire development for $1.6 billion

02/15/2008 | Bloomberg

Champion Real Estate Investment Trust agreed to acquire a shopping and office complex for $1.6 billion from Great Eagle Holdings Ltd. The acquisition by Hong Kong's first prime office property trust includes a 1.94 million-square-foot development and comes as property prices rise. The purchase price is an 11.8% discount to the property's valuation.

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