Hong Kong–based Shun Tak Holdings has entered into a joint venture through its indirect wholly-owned subsidiary, Wise Horizon Developments, with a consortium of investors to invest in, acquire and develop large-scale and predominantly healthcare integrated mixed-use developments in mainland China with close proximity to high-speed railway (HSR) stations.
The joint venture comprises a capital investment of up to $1.2 billion with first close of $500 million.
The joint venture, Perennial HC Holdings Pte., was established by Perennial Real Estate Holdings, which holds a 45 percent majority stake. The remaining stakes are held by a consortium of partners comprising Shun Tak with a 30 percent stake, Bangkok Bank Public Company Limited with a 10 percent stake, BreadTalk Group with a 5 percent stake, and some other partners who collectively hold a 10 percent stake.
Shun Tak Holdings’ committed investment amount for the first investment tranche is $150 million. It w
