ESR has sold a 95 percent stake in a portfolio of six Chinese industrial properties to the RMB Income Fund, a subsidiary of Beijing-based Taikang Insurance Group, in a deal that values the assets at RMB 2 billion ($288 million), according to a filing by the Hong Kong–listed company on Monday.
The portfolio comprises ix stabilized assets strategically located in major logistics and industrial hubs across different regions in China, including the Yangtze River Delta Region, the Greater Bay Area and the Beijing-Tianjin-Hebei Region, with a total gross floor area of 349,649 square meters (3.8 million square feet).
