Deals
China's Anbang Said to Buy Canada Office Tower From Brookfield
- Insurer acquires HSBC Building in Toronto's financial district
- Deal is valued at C$110 million, Financial Times reports
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Anbang Insurance Group Co., the Chinese investor that bought New York’s Waldorf Astoria hotel earlier this year, purchased an office building in Toronto from Brookfield Asset Management Inc., according to two people with knowledge of the transaction.
The insurance company acquired 70 York St., a 17-story tower in Toronto’s financial district, said the people, who asked not to be identified because the details are private. Anbang paid about C$110 million ($75 million) for the property, according to the Financial Times, which reported the deal earlier Thursday.