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Wall Street Journal: Chinese State-owned Property Developer to Buy 70% in NY Project

Chinese state-owned property developer Greenland Holdings Group agreed to buy a majority stake in a 15-tower apartment project, that would make it the largest commercial real estate development in the United States to get major backing directly from a Chinese company, the Wall Street Journal reported.   If the deal is approved, Shanghai-based Greenland will buy a 70 percent stake from Forest City Ratner Cos, which began the project and would continue to manage the development, the Journal ...

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