Blackstone Group has plans to acquire SOHO China for $3.05 billion.
Founded in 1995, SOHO China owns and operates an iconic portfolio of commercial properties in China totaling 1.3 million square meters (14 million square feet). The existing controlling shareholders will retain a 9 percent stake upon the completion of the transaction and SOHO China will remain listed on the Hong Kong Stock Exchange. This transaction reinforces Blackstone’s commitment to investing in China, where the firm has been an active investor in real estate for more than a decade.
Justin Wai, a Blackstone real estate managing director based in Hong Kong, said, “We’re thrilled to announce this investment in SOHO China to expand our footprint in China. China is a key market for our Asia business where we’ve built a diverse real estate portfolio across office, retail, logistics, and residential. We’re confident in China’s long-term potential and economic recovery, which is well underway
