LaSalle and Jingrui Capital partner to develop multifamily projects in China
LaSalle Investment Management has formed a strategic partnership with Jingrui Capital to invest in and develop multifamily projects in China. On top of the announcement of the partnership, LaSalle and Jingrui Capital unveiled their first joint acquisition deal for a distressed retail and hotel property in Shanghai. The property is in Shanghai Hongqiao Transportation Zone and will be renovated as a multifamily project, featuring a total of 583 rental units and retail facilities.
Through this partnership, LaSalle expands its multifamily sector footprint in China, demonstrating its long-term commitment to China’s real estate market. LaSalle follows a research-based investment strategy and has identified the multifamily sector as one of its thematic investments in China.
Claire Tang, co-CIO Asia Pacific and head of Greater China at LaSalle, said, “China is one of the key strategic markets for LaSalle. We have seen increasing investment opportunities in China’s gradu