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Sky SOHO sale deal
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SOHO China agrees to sell Sky SOHO project in Shanghai to Gaw Capital Partners, real estate private equity firm, said separate statements by both firms.
The framework agreement for the 2.95 billion yuan (US$448 million) sale was determined after negotiations between the two parties based on Sky SOHO’s asset value of 5.008 billion yuan, SOHO China said in a filing to the Hong Kong stock exchange. The agreed value of Sky SOHO at 5.008 billion yuan is 85 percent higher than the project’s total cost as of June 30, according to SOHO China.
Sited at Hongqiao Linkong Economic Zone, Sky SOHO has office and commercial space of 128,175 square meters in gross floor area.
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