M&G Real Estate has sold LiFung Centre, a 487,350-square-foot logistics property in Hong Kong, to JINGDONG Property (JDP), an infrastructure investment and asset management platform of JD.com, for HK$1.8 billion (approximately $232 million).
International law firm Mayer Brown’s cross-practice team in Hong Kong advised M&G Real Estate on the sale process for more than 12 months leading up to the deal. The process involved rounds of selection and negotiation with multiple bidders of different backgrounds.
This deal is reported to be the largest industrial en bloc transaction in Hong Kong this year, according to Mayer Brown.
Located at 2 On Ping St., Sha Tin, New Territories, Hong Kong, LiFung Centre was bought by M&G Real Estate more than 15 years ago as one of the initial investments of its M&G Asia Property Fund, according to Mingtiandi. The property is fully leased.
“We are excited about this institutional-quality property, s
