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SCPG, Vanke, and Triwater Form Partnership to Acquire Chinese Real Estate Portfolio from CapitaLand for US$1.33 Billion

Hong Kong & Beijing – Paul Hastings LLP, a leading global law firm, announced today that the firm has represented SCPG Holdings Co., Ltd, a leading shopping mall owner, developer and operator in China; China Vanke Co., Ltd., a leading urban and rural construction and residential service provider; and Triwater Asset Management Holdings Limited, an affiliate of leading Chinese private equity firm HOPU Investment, in the formation of an offshore consortium for the purpose of acquiring a large-scale Chinese real estate portfolio from CapitaLand Mall Asia Limited, a wholly owned subsidiary of CapitaLand Limited, for RMB 8.365 billion (approximately US$1.33 billion). The portfolio comprises 20 shopping malls, with a total gross floor area of around 950,000 square meters, in locations across 19 cities in in Northern, Eastern, Southern and Midwestern China.

Paul Hastings has a leading Greater China real estate practice, and regularly advises international investors, developers and financial institutions on cross-border transactions involving real estate in Greater China, including fund formation, and the acquisition and disposition of various types of real estate.

The Paul Hastings team was led by Hong Kong real estate partner Paul Guan, and Beijing corporate partners Nan Li and Meka Meng.

At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.