Sellers of Downtown Vancouver's Bentall Centre court bidders
Established investors from Hong Kong and the U.S. are bidding to buy the Bentall Centre in Downtown Vancouver.
JOANNE LEE-YOUNG Updated: March 1, 2019
There are media reports of established investors from Hong Kong and the U.S. making first-round bids for the Bentall Centre, the four-tower office and retail complex in Downtown Vancouver. GERRY KAHRMANN / VANCOUVER SUN
The ownership of the Bentall Centre in Downtown Vancouver has been in limbo since Beijing-based Anbang Insurance Group was taken over by the Chinese government, which said it will off-load some US$10 billion of the company’s assets after overspending led to high debt, allegations of corruption and the jailing of its former chairman.
Talk in recent months of commercial realtor CBRE Ltd. seeking potential buyers for the Bentall Centre, which is the most notable commercial property currently for sale in Canada, has coincided with an increasingly tense bilateral relationship with China.
Now, there are media reports of established investors from Hong Kong and the U.S. making first-round bids for the four-tower office and retail complex. They include Hong Kong-based CK Asset Holdings Ltd., which is partly owned by tycoon Li Ka-shing, and New York-based private equity firm the Blackstone Group.
CK Asset was previously known as Cheung Kong Property Holdings Ltd. and came into being in 2015 when Li restructured his CK Hutchison Group, a conglomerate with operations around the world.
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https://vancouversun.com/business/co...courts-bidders