HONG KONG—CBRE said Thursday that it its participating in the the single largest office tower purchase in the Hong Kong office market, following the agreement for the sale and purchase of the East Tower at One Bay East, in Kowloon East.
A landmark transaction for the Hong Kong office market, the acquisition will see Citi purchase from Wheelock Properties Ltd., a new 21-story, class A office building comprising 512,000 square feet, together with 2 levels of basement car parking. The deal is valued at $700 million (HK$5.425B).
The team of CBRE real estate advisors who worked on the acquisition was led by Rhodri James, executive director, office services, Hong Kong, CBRE. James commented on the magnitude of this purchase for the Hong Kong market:
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
