China property developer's family in talks to buy stake in GM building -WSJ

March 7 Thu Mar 7, 2013 7:56pm EST

March 7 (Reuters) - The family of Soho China Ltd's chief executive Zhang Xin is in discussions to buy a 40 percent stake in the 1.8 million square foot General Motors building in Manhattan, the Wall Street Journal reported on Thursday, citing real-estate executives familiar with the talks.

The sellers include the sovereign-wealth funds of Qatar and Kuwait, which invested through a Goldman Sachs Group fund, as well as an investor associated with the ruling family of Dubai, the business daily said.

If completed, the deal would value the tower at $3.4 billion, according to the executives, the Journal reported. ()

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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