The paper did not specify whether Hong Kong-headquartered Great Eagle Group or its Hong Kong-listed unit Great Eagle Holdings Ltd was involved in the deal. Blackstone and Great Eagle were unavailable for comment.
Great Eagle Group posted a core profit after tax of about HK$1.28 billion (US$164 million) and had a net asset value of around HK$22 billion in financial year 2009, according to its website.
Foreign companies have been trying to tap the Chinese housing market, which has seen prices rise sharply over the past year mainly due to healthy domestic consumption as the economy grew.
But the government has been trying to curb rises to ensure the sector does not suffer from overheating.
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