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.
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