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HNA buys Minneapolis tower and mall for $316m

11/11/2016| 4:39:41 PM|

HNA Group has bought an office tower and retail mall in Minneapolis, Minnesota for $316m (EUR 288 million), according to IPE Real Estate.

The Chinese conglomerate, which has been building up a global property portfolio, closed the deal for 33 South Sixth-City Center on November 9, according to IPE Real Estate.

Shorenstein Properties, which bought the mixed-use scheme in 2012 for USD 206 million, made the sale on behalf of its USD 1.23 billion Shorenstein Realty Investors Ten fund.

The deal comes a day after the presidential election and will provide some reassurance to market participants fearing a slowdown in real estate transactions.

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TAGS: HNA Group | office tower | retail mall | US
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