Hong Kong, Beijing and Shanghai – Paul Hastings LLP, a leading global law firm, announced today that the firm jointly represented Ascent Real Estate Investors (ARE) and Sigma Delta Partners Investment (SDP Investment) in the formation of an institutional investor consortium and the consortium’s US$1.34 billion acquisition of Dinghao Electronics Plaza, a landmark complex located in the core area of Zhongguancun, Beijing. The transaction is one of the largest-ever foreign investor acquisitions of a Beijing commercial real estate asset.
ARE is a new China-focused real estate investment manager established by the China real estate team recently spun off from The Carlyle Group, the Washington, DC-based private equity firm. This is ARE’s first investment. SDP Investment is an integrated investment management platform focusing on acquiring, developing, and operating high quality office, retail and logistics properties in China. Partners Group, the Switzerland-based private markets investment management firm, is the majority equity investor in the investor consortium. The consortium also includes The Family Office Company, a Bahrain based global asset manager.
Dinghao Electronics Plaza is located in No.3 Haidian Street, Zhongguancun, Beijing. The Zhongguancun area is known as the “Silicon Valley of China” because many of the nation’s top technology firms are located there.
Paul Hastings has the leading Greater China real estate practice, and regularly advises international investors, developers and financial institutions on cross-border transactions, including fund formation, senior and mezzanine financings, joint ventures, and acquisition and disposition of various types of real estate.
The Paul Hastings team was led by Hong Kong Real Estate partners David Blumenfeld and Paul Guan, Beijing Corporate partner Meka (Qingkai) Meng and Shanghai Real Estate associate Elyn He, with support from Sean Zhang, Cece Yang, Lawrence Sham and Peter Zhang.
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.