The Shenzhen-listed group S.F. Holding, one of China's largest listed courier providers, plans to inject three logistics centers worth HK$6.1 billion ($786 million) into an offshore REIT to be listed in Hong Kong as part of a plan to free up cash from its assets, reported South China Morning Post.
Under the REIT plan, S.F. Holding will sell one building of a 15-story Asia Logistics Hub-SF Center in Tsing Yi, Hong Kong, valued at HK$5.29 billion ($780 million). It has 160,322 square meters (1.73 million square feet) of floor space comprising an automated parcels-sorting facility, and a distribution and warehousing facility.
The other two properties are a warehousing and distribution center in Wuhu, Anhui province, worth about HK$264.7 million ($34 million), and a distribution center in Foshan, Guangdong province, estimated at HK$549.2 mi
