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Report: Gaw Capital buys 4 Shanghai office buildings for about 2.8B yuan

Hong Kong-based real estate investment firm Gaw Capital Partners purchased four grade A office buildings in Shanghai's Minhang district from China Resources Capital Management Ltd. for about 2.8 billion yuan, Mingtiandi reported, citing sources close to the matter.

According to the report, the purchase covers blocks A, B, C and D of Shanghai MixC, a set of four eight-story buildings which provide a combined 56,950 square meters of office space, supported by an additional 3,857 square meters of first-floor retail space.

A Cushman & Wakefield capital markets team acted as sole agents on behalf of China Resources Capital, the report noted.

As of Jan. 7, US$1 was equivalent to 6.85 yuan.