Partners Group has acquired a majority equity stake in Dinghao Plaza, a large mixed-use office and retail complex in Beijing, on behalf of its clients.
The firm has partnered with a consortium including Ascent Real Estate Investors, Sigma Delta Partners Investment and the Family Office Co. in the off-market acquisition, which had a total transaction value of $1.34 billion.
Dinghao Plaza is a 176,976-square-meter (1.9 million-square-foot) mixed-use building complex situated in the heart of Beijing’s ZGC area, known as the “Silicon Valley of China,” with direct underground access to the ZGC metro station. Constructed in 2003, the property currently contains a large retail podium and two office towers. It offers a value creation proposition that is focused on repositioning under-used retail space for office use and undertaking a large-scale refurbishment of the existing office towers to bring them to class A standard.
“Dinghao Plaza is ideally located in ZG
