Harvard No Longer in Talks to Sell Real Estate to China Fund


Harvard University is no longer in talks to sell real estate stakes to China's sovereign wealth fund, Bloomberg News reported.

The school had been in talks with China Investment Corp. regarding the sale of real estate stakes worth hundreds of millions of dollars, Bloomberg News reported without naming its sources.

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Both Harvard and CIC declined to comment to Bloomberg news.

Harvard's $5 billion real estate holdings have been hit by falling property prices. In February, the university was taking offers on a portion of its real estate holdings, Bloomberg News reported.

Harvard's real assets, which include property, commodities and natural resources, fell 2.7% in the year ended June 2009.