HNA buys Minneapolis tower and mall for $316m
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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