Morgan Stanley Real Estate Fund agreed to pay CNY245.2 million to Hong Kong-listed developer Hon Kwok Land Investment Co. for a 50% stake in a property in Guangzhou, southern China.

It would be the second project in which the property fund of investment bank Morgan Stanley (MS) and Hon Kwok Land, a unit of Hong Kong-listed Chinney Investments Ltd., have teamed up in southern China in the past 10 months.

The latest acquisition comprises three adjoining sites in Guangzhou with a total gross floor area of more than 100,000 square meters.

Source:佚名