An affiliate of real estate investment firm Forum Partners has invested US$46 million by way of convertible bonds in Treasury China Trust (TCT), the first Singapore-listed business trust focused on commercial real estate in China. Funds from the affiliate, Forum Asian Realty Income III (FARI III), will be used by TCT for acquisitions of commercial real estate in China.

TCT is an experienced manager of high quality retail and office assets in Shanghai, Beijing and Qingdao. TCT was formally listed on the AIM in London as China Real Estate Opportunities plc (CREO) from July 2007 until June 2010 and re-listed by way of introduction on the Singapore Stock Exchange in June 2010. TCT’s portfolio comprises three completed and stabilized commercial assets in prime Shanghai CBD locations, two development projects and one refurbis