- June 1, 2015: Vol. 7, Number 6

To read this full article you need to be subscribed to Institutional Real Estate Asia Pacific

Ascendas holds US$266m final close

by Andrea Waitrovich

Singapore-based real estate developer and fund manager Ascendas has announced the final closing of its Ascendas China Business Parks Fund 4. The value-added fund raised S$333 million (US$266 million) in equity commitments.

ACBPF 4 will invest in a portfolio of premium business park assets in Shanghai, Suzhou and Xi’an. To date, the fund’s portfolio consists of Ascendas Lotus Business Park in Zhangjiang, Shanghai; Ascendas-Xinsu portfolio in Suzhou; and Ascendas Innovation Towers development project in Xi’an.

Ascendas will hold a significant sponsor stake of 23 percent in the fund, and the other co-investors — comprised of institutional investors, including major European pension funds and Singapore institutions, such as bpfBouw Asia, ImmoFinRE Group and Singapore Press Holdings — will retain the remaining stake.

“As Ch

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy