Publications

Transactions - JANUARY 2, 2014

To read this full article you need to be subscribed to Newsline.

Sign in Sign up for a FREE subscription

ARA sells China property for $413m

by Andrea Waitrovich

Singapore real estate firm ARA Asset Management has sold, on behalf of its $1.13 billion Dragon Fund I, the Nanjing International Finance Center in Nanjing, China, for $413 million. The buyer of the property, located in the heart of Xinjiekou, Nanjing’s central business district, is SanPower Group.

ARA’s first real estate fund purchased the 51-story mixed-use property in 2009 for $234 million. ARA’s Dragon Fund had a final close in 2008. The fund invests across Asia, with a primary focus on the main cities of China, Singapore, Hong Kong and Malaysia and a secondary focus on other emerging economies in Asia.

The firm has been actively selling the fund’s assets. In August 2013, ARA announced plans to divest all five of the Dragon Fund’s assets in Malaysia during second quarter 2014. The five shopping centers are Mont Kiara, Aeon Bandaraya Melaka, Ipoh Parade, Klan

Forgot your username or password?

We use cookies and other tracking technologies to personalize your user experience on our site and perform site analytics. By clicking on “I accept”, you consent to our Privacy Policy.