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A New York-based private equity giant and a Los Angeles-based company are teaming up to buy downtown Vancouver’s Bentall Centre from China’s Anbang Insurance Group. It’s a deal that brings big American money, but also marks the return to town of some high-level executives who grew up in Vancouver.

Anbang was forced to sell Bentall after the Chinese government seized control of the company to deal with its high debt, allegations of corruption and the jailing of its former chairman.

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When Anbang bought the four office towers and retail mall for over $1.06 billion in 2016, the deal was the most expensive in Vancouver history and drew attention by seeming to skirt federal rules for big investments by foreign companies, including the identifying of beneficial owners.

The current transaction is expected to close in the next few months. None of the companies involved are disclosing the new sale price, according to Jim Szabo, Vancouver-based vice-chairman of CBRE Limited, which is involved with the sale.