Sony to sell European HQ to M.Stanley consortium
LONDON, Feb 28 (Reuters) - Japanese consumer electronics maker Sony Corp (6758.T: Quote, Profile, Research) said on Thursday that it has agreed to sell its European headquarters and entertainment complex in Berlin to a consortium led by Morgan Stanley-run funds.
Sony said it will remain as the main tenant in the eight-building Sony Center on Potsdamer Platz, which draws more than eight million visitors per year.
Morgan Stanley (MS.N: Quote, Profile, Research) and Sony both declined to comment on the size and terms of the sale and leaseback, although a spokeswoman for Sony said the initial cost of the development was 750 million euros ($1.13 billion).
Reports put the size of the deal at between $940 million and $1.13 billion.
(See www.reutersrealestate.com for the global service for real estate professionals from Reuters). (Editing by Quentin Bryar)
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