ICBC International Forms a Partnership with China Logistics Property Holdings for Acquisition of a RMB2 Billion Chinese Real Estate Portfolio
Hong Kong, Beijing and Shanghai – Paul Hastings, a leading global law firm, announced today that the firm advised ICBC International Investment Management Limited (“ICBC International”), the wholly-owned Hong Kong subsidiary of the Industrial and Commercial Bank of China Limited, on its formation of a partnership with China Logistics Property Holdings Co, Ltd. (“CNLP”), a leading Chinese logistics developer and operator listed in Hong Kong, for the acquisition of a logistics real estate portfolio which was wholly-owned by CNLP. The portfolio is valued at approximately RMB2 billion and comprises three logistics properties aggregating approximately 550,000 square meters across three cities (Wuxi, Zhengzhou and Shenyang) in 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, joint venture, and acquisition and disposition of various types of real estate. Paul Hastings’ China real estate team has advised ICBC International on a number of fund formation, acquisition, financing, and strategic joint venture transactions in the real estate sector over the years.
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