According to anonymous sources, Morgan Stanley’s real estate investment arm is in final negotiations with a unit of Singapore’s Keppel Land for the sale of an apartment complex in China.
The property’s overall value is projected to be around 900 million yuan ($130 million). The total value of the sale of the luxury apartment complex, which is controlled by Morgan Stanley and partially owned by a local partner, was not revealed.
Alpha Investment Partners, a unit of Keppel Land and the third-leading developer in Singapore, has been in exclusive negotiations with Morgan Stanley Real Estate Asia to acquire the Jinlin Tiandi complex located in downtown Shanghai.
After several rounds of negotiations, Alpha was the only bidder left, and the deal is expected to close within the next couple of months.