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Sign in Sign up for a FREE subscriptionCapitaLand launches investment program targeting special situation opportunities in China
CapitaLand Investment Ltd. (CLI) has launched the CapitaLand China Opportunistic Partners Program to invest in special situation opportunities in China. The CCOP Program comprises a S$291 million ($219 million) single-asset fund and a S$824 million ($619 million) programmatic joint venture.
A total of S$1.1 billion ($826 million) of equity has been committed to the program, with S$892 million ($670 million) secured from top-tier global institutional investors, which hold an 80 percent stake in the program. CLI holds the remaining 20 percent stake.
The single-asset fund has acquired Beijing Suning Life Plaza, an integrated development consisting of office and retail components in Beijing’s Central Business District, for S$553 million ($415 million). It will invest to reposition the 19-story integrated development, starting in first quarter 2023, converting and upgrading the retail space into a grade A office that will command higher rent.
The programmatic joint
