Mingtiandi

Asia real estate and outbound investment news

  • Facebook
  • LinkedIn
  • RSS
  • Twitter
Sign Up / Login Logout

Lost your password?
Register
Forgotten Password
Cancel

Register For This Site

A password will be e-mailed to you.

  • Capital Markets
  • Events
    • 2021 Mingtiandi Event Calendar
    • Join the Mingtiandi Asia Value-Add Forum 2021
    • Join the Mingtiandi Multi-Family Investment Forum 2021
    • Join the Mingtiandi Logistics Real Estate Forum 2021
    • Join the Mingtiandi Sustainable Real Estate Forum 2021
    • Join the Mingtiandi Data Centre Forum 2021
    • Join the Mingtiandi Office Strategies Forum 2021
    • Join the Mingtiandi Proptech Forum in November
    • More Events
  • MTD TV
  • People
  • Logistics
  • Asia Outbound
  • Retail
  • Design & Construction
  • Research & Policy
  • Advertise

China Vanke Shuffles Investors as Logistics Fund Shrinks Over 50%

2018/12/19 by Emma Zhou Leave a Comment

Vanke old Chain Guangdong

Vanke took over Swire’s cold storage facility in Guangdong in July

China Vanke has announced to the Hong Kong Stock Exchange that its logistics real estate fund has shuffled investors, with the investment vehicle shrinking by over 50 percent to RMB 2.95 billion ($430 million).

Vanke, China’s second-largest real estate developer in terms of sales in the first half of 2018, said it has brought three new partners — Taikang Life Insurance, Grand China Fund, and Qianhai Hanghui — into the fund, which was founded in 2017 and once was invested to the tune of RMB 6 billion. The fund targets logistics projects in China.

Grand China Fund will now manage the fund in place of Shenzhen Putai Investment, which has withdrawn, Vanke said

Taikang Life Takes Leading Stake

Following the reorganisation of the fund, Taikang Life Insurance is now the biggest investor of the seven major partners, with a 46.82 percent share worth RMB 1.38 billion and Qianhai Hanghui holds a 13.53 percent share of the fund worth RMB 400 million.

Jiangsu International Trust, formerly the fund’s biggest investor, has also withdrawn its money, Vanke said. The government-owned trust contributed RMB 3.6 billion to the fund in October 2017, at the time accounting for 60 percent of the financing.

Yu Liang Vanke

Vanke boss Yu Liang may be a bit disappointed with his downsized shed fund (Source: Yicai.com)

Vanke also reduced its own commitment to the slimmed down fund by nearly RMB 500 million to RMB 1.01 billion, although its proportional stake in the initiative rose from 25 percent to 34.16 percent due the to smaller overall pool.

The Shenzhen-based developer said the adjustment of investors occurred because of “changes of policy and negotiations between partners,” although it is generally believed that Vanke wants to expand its influence over the fund.

Three other investors — Dongguan Boyu Import Logistics, Ganyuansheng Investment, and Feihong Yihao Investment — have all reduced their investments in the fund in the latest round of adjustments.

Vanke Grows Logistics Portfolio

In recent years, China Vanke has paid increasing attention to developing its logistics business. In July 2017, it led a consortium in taking over Global Logistics Properties (GLP), the largest operator of warehouses in China. The consortium paid US$11.6 billion in the deal, and delisted GLP from the Singapore Exchange to take it private.

Since becoming the largest shareholder of GLP, Vanke has launched 54 new logistics projects in the mainland, including logistics parks in Shanghai, Ningbo, Hangzhou, and Tianjin. In July it acquired Swire Properties’ cold-chain business — a total of seven cold storage centres in Shanghai, Guangzhou, Nanjing, Chengdu, Xiamen, Langfang and Ningbo.

Vanke now operates 110 logistics centres, totaling 7,300,000 square metres (78,576,546 square feet), in 36 cities around China.

Related Stories

  • Blackstone Buys Tokyo Warehouse Portfolio From Mapletree for $920MBlackstone Buys Tokyo Warehouse Portfolio From Mapletree for $920M
  • Vanke Buys Swire Cold Chain Logistics Unit for RMB 2BVanke Buys Swire Cold Chain Logistics Unit for RMB 2B
  • Link REIT Buying Half-Stake in Vanke Shanghai Mall for $429MLink REIT Buying Half-Stake in Vanke Shanghai Mall for $429M
  • Blackstone Buying $1.1B Guangzhou Logistics Park From R&FBlackstone Buying $1.1B Guangzhou Logistics Park From R&F

Share this now

  • LinkedIn
  • Share
  • Tweet
  • Email

Filed Under: Logistics Tagged With: China Vanke, daily-sp, Grand China Fund, highlight, Logistics, Logistics fund, Taikang Life Insurance

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Yardi Refurbish or Rebuild

Get Mingtiandi Delivered

Sustainability Forum

MTD TV

MTD TV data centre panel

Blackstone, Actis Predict Continued Growth for APAC Data Centres on MTD TV

Warburg Pincus, Princeton Digital Foretell Asia’s Data Centre Future

More MTD TV Videos

Latest Stories

Grosvenor Latest Global Investor to Back Taronga Real Estate Tech Fund

Tricia Song Colliers

Singapore Property Investment Jumped 48% in Q1 Says Colliers

ESR Said in Talks to Acquire 8 India Projects and More Asia Real Estate Headlines

Sponsored Features

Tony Horrell

Colliers’ Global Investor Sentiment Report Anticipates Up to 50% Surge in Investment in 2021 Sponsored Feature

Andrew-Slevin-John-Foord (4)

Insurtech to Help Address Underinsurance Across Asian Real Estate Assets in 2021 Sponsored Feature

CK Lau

Asia Pacific Logistics Sector: Increasingly Varied Sector Requires Multiple Approaches Sponsored Feature

More Sponsored Features>>

MTD-QR-Code-320

Top Stories

Blackstone Selling $2.9B Aussie Logistics Portfolio to ESR-GIC PartnershipBlackstone Selling $2.9B Aussie Logistics Portfolio to ESR-GIC Partnership

Asia Real Estate People in the News 2021-04-17Asia Real Estate People in the News 2021-04-17

APG Buys 20% Stake in Greater China Data Centre Operator OneAsiaAPG Buys 20% Stake in Greater China Data Centre Operator OneAsia


Connect with Mingtiandi

  • Facebook
  • LinkedIn
  • RSS
  • Twitter

Real Estate News

  • Capital Markets
  • Events
    • 2021 Mingtiandi Event Calendar
    • Join the Mingtiandi Asia Value-Add Forum 2021
    • Join the Mingtiandi Multi-Family Investment Forum 2021
    • Join the Mingtiandi Logistics Real Estate Forum 2021
    • Join the Mingtiandi Sustainable Real Estate Forum 2021
    • Join the Mingtiandi Data Centre Forum 2021
    • Join the Mingtiandi Office Strategies Forum 2021
    • Join the Mingtiandi Proptech Forum in November
    • More Events
  • MTD TV
  • People
  • Logistics
  • Asia Outbound
  • Retail
  • Design & Construction
  • Research & Policy
  • Advertise

More Mingtiandi

  • About Mingtiandi
  • Contact Mingtiandi
  • Newsletter Subscription
  • Terms of Use
  • Privacy
  • Advertise
  • Join the Mingtiandi Team