SCPG, Vanke and Triwater partner to acquire $1.33b Chinese real estate portfolio
SCPG Holdings, China Vanke and Triwater Asset Management Holdings have formed an offshore consortium to acquire a large-scale Chinese real estate portfolio from CapitaLand Mall Asia Limited, a wholly owned subsidiary of CapitaLand Limited, for $1.33 billion.
The portfolio comprises 20 shopping malls, with a total gross floor area of around 950,000 square meters (10.23 million square feet), in locations across 19 cities in Northern, Eastern, Southern and Midwestern China.
SCPG Holdings Co. is a shopping mall owner, developer and operator in China.
China Vanke Co. is an urban and rural construction and residential service provider.
And Triwater Asset Management Holdings is an affiliate of Chinese private equity firm HOPU Investment.