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Link REIT pays $429m for first retail property investment in Shanghai
Transactions - FEBRUARY 24, 2021

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Link REIT pays $429m for first retail property investment in Shanghai

by Andrea Zander

Hong Kong–based Link REIT has acquired a 50 percent interest in the 233,872-square-meter (2.5 million-square-foot) Shanghai Qibao Vanke Plaza shopping mall for RMB2.77 billion (€353 million/$429 million) from affiliates of China Merchants Bank and Chinese developer Vanke.

It is Link REIT’s sixth retail investment in mainland China and its first retail property investment in Shanghai.

Shanghai Qibao Vanke Plaza totals 149,000 square meters (1.6 million square feet) of retail space, located in Minhang district, which is about five kilometers (3.1 miles) south of the city’s Hongqiao International Airport.

It is 97.8 percent occupied as of December 2020.

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