Publications

Transactions

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

Link REIT purchases Shanghai office towers for $1b

by Andrea Waitrovich

The Link Management Ltd., the manager of The Link REIT, has agreed to acquire Corporate Avenue 1 and 2 in Shanghai for 6.6 billion yuan ($1.07 billion). The seller was Shui On Land Ltd., which developed the towers in 2004. This marks Link REIT’s first acquisition of a mixed-use property (with office and retail components) in mainland China, following its recent $399 million acquisition of Beijing’s EC Mall in April this year. The mixed-use asset is located in Shanghai’s core CBD in Taipingqiao/Xintiandi area in Huangpu District. It is in close proximity to Shanghai’s retail destination of Huaihai Middle Road. The property has a gross floor area (including the basement) of approximately 1.05 million square feet. Corporate Avenue 1 is a 21-floor tower comprising 19 floors of office space. Corporate Avenue 2 is a 10-floor tower comprising 8 floors of office space. Two floors of retail space at the street and first floor levels con

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?