China Merchants Commercial REIT pays $400m to acquire properties in Chaoyang District, Beijing

China Merchants Commercial REIT has plans to acquire properties in Chaoyang District, Beijing, with a total initial price of about RMB2.7 billion ($400 million), according to the announcement.

The seller, Super Alliance Real Estate Partner, and the guarantor (Ruijia Investment Industrial Co., Ltd., a wholly owned subsidiary of China Merchants Shekou) entered into a sale and purchase agreement.

The target properties include 34-story China Merchants Tower; four-story AIA NPA Center; the 01-04 Connecting Podium, connecting the three-story China Merchants Bank Building and the Taping Financial Center; the 18-story China HP Building; and the 528 underground car park spaces and three underground commercial units variously located at the Hengqin Life Tower, AIA NPA Center, Inner Peace, ICBC Building, China HP Building, China Merchants Bank Building, China Merchants Tower, 01-04 Connecting