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
    • Mingtiandi 2022 Event Calendar
    • APAC Residential Forum 2022
    • Asia Logistics Forum 2022
    • Asia REIT Forum 2022
    • APAC Data Centre Forum 2022
    • Singapore Focus Forum 2022
    • Office Strategies Forum 2022
    • More Events
  • MTD TV
  • People
  • Logistics
  • Data Centres
  • Asia Outbound
  • Retail
  • Research & Policy
  • Advertise

Ping An Commits $1B to US Logistics Real Estate

2015/10/29 by Michael Cole Leave a Comment

Ping An logistics

Ping An is China’s first major investor to bet on US logistics real estate

Ping An Insurance Group, one of China’s five largest insurers, this week became the first major Chinese cross-border investor in the logistics real estate market by committing as much as $1 billion to a joint venture warehouse investment platform in the US.

Ping An, which already has invested in commercial properties in the UK and the US, announced a joint venture with Denver-based Blumberg Investment Partners to acquire and develop distribution centres in major American markets including the New York area, the Mid-Atlantic region, the Pacific Northwest, southern Florida, Atlanta and Colorado.

Ping An’s investment in US warehouses comes after the Chinese insurer acquired a pair of office buildings in London, and invested in a mixed-use development project in Boston as it leads a growing wave of cross-border deals by mainland insurers.

Up to $1 Billion for US Warehouses

Together with its new US property fund management partner, Ping An initially has committed to investing in a logistics portfolio worth more than $600 million, according to a statement released by Ping An.

The deal was executed through Ping An’s trust division which invests in higher-yielding alternative assets on behalf of the firm’s corporate and high net worth individuals in China. In addition to its insurance business, Ping An also operates banking, securities and trust businesses in China.

“We see a tremendous opportunity in the US market, and this partnership underscores our continuing efforts to partner with world-leading companies as we seek new overseas real estate opportunities,” Li Qingxian, Executive General Manager of Ping An Trust’s Overseas Investment Division said in a statement. He added that, “Ping An is continuing to look for investment opportunities on behalf of our institutional and high net worth clients.”

With this initial tranche of assets already occupied by leading companies, the Shenzhen-based company says it also has identified another $400 million in properties for future acquisition, which would bring its total investment in the platform up to $1 billion.

Ping An Already One of China’s Leading Outbound Investors

Peter Ma Ping An

Ping An chairman Peter Ma is leading a wave of cross-border deals by Chinese insurers

The commitment to US warehouse assets comes after Ping An has already invested in commercial properties in the US and the UK.

The insurer became one of China’s first institutional investors to head overseas in July 2013, when it purchased the Lloyd’s of London building in the UK for ₤260 million ($390 million at the time).

This year, Ping An has followed up by acquiring a second London office asset for ₤327 million ($490 million) and teaming up with competitor China Life to take a majority stake in a $500 million Tishman Speyer development project in Boston.

Earlier this year, a Ping An spokesman told Mingtiandi that the insurer, which has RMB 1.4 trillion ($220 billion) in current assets under management, would be looking into logistics opportunities overseas, as it seeks to expand its portfolio into global real estate.

Since late 2012, China’s insurers have been allowed to invest up to 15 percent of their assets overseas, and Ping An estimates that the industry has only invested two to three percent of these assets across the border so far.

Share this now

  • LinkedIn
  • Share
  • Tweet
  • Email

Filed Under: Outbound Investment Tagged With: crebrief, highlight, Logistics, Ping An Insurance

Office forum 2022 Jumbo

Leave a Reply

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

Get Mingtiandi Delivered

MTD TV

MTD TV Emerging classes in residential screenshot
Student Housing, Senior Living Offer Amped Yields for Multi-Family Investors: MTD TV
mtd tv sustainable data centres
Efficiency, Design and Green Power Key to Data Centre Sustainability: MTD TV

More MTD TV Videos>>

People in the News

jesline goh UOL
Jesline Goh Resigns as CIO of Singapore’s UOL as Developer Promotes Hotel Chief
Lee Hoon KIc
Asia Real Estate People in the News 2022-08-15
daigo Hirai BlackRock
Asia Real Estate People in the News 2022-08-08
Bryan Southergill
Ares Hires Bryan Southergill to Run Asia Real Estate Business

More Industry Professionals>>

People in the News

Jesline Goh Resigns as CIO of Singapore’s UOL as Developer Promotes Hotel Chief

jesline goh UOL

Jesline Goh is stepping down as chief investment and asset officer of Singaporean developer UOL Group after nearly five … Read More>>

Asia Real Estate People in the News 2022-08-15

Lee Hoon KIc

Senior personnel changes in Korea, Hong Kong and Singapore lead Mingtiandi’s roundup of HR moves from around the region … Read More>>

Asia Real Estate People in the News 2022-08-08

daigo Hirai BlackRock

BlackRock’s appointment of a new head of Japan real estate leads this week’s roundup of personnel moves from around the … Read More>>

Ares Hires Bryan Southergill to Run Asia Real Estate Business

Bryan Southergill

After more than eight years leading real estate investments for KKR in Asia, Bryan Southergill has taken on a new role … Read More>>

More Industry Professionals>>

Latest Stories

Xia Haijun, CEO of Evergrande
Evergrande, PwC Investigated Over Failure to Report $2B Loan Scheme
Amit-Diwan HINES
Hines Set to Enter Mumbai Market with 30-Storey Office Project
David Green-Morgan RCA
APAC Industrial Property Investment Plunges 62% as Yields Fizzle

Sponsored Features

Douglas Wu Fairland Holdings
How a Hong Kong Mall Repositioning Boosted Revenue by Focusing on Community
For Hong Kong’s Office Market, Border Reopening Holds Key to Unlocking Demand
Top 3 Trends Driving a Connected Experience in Commercial Real Estate

More Sponsored Features>>

MTD-QR-Code-320

Connect with Mingtiandi

  • Facebook
  • LinkedIn
  • RSS
  • Twitter

Real Estate News

  • Capital Markets
  • 2022 Event Calendar
  • MTD TV Archives
  • People
  • Logistics
  • Data Centres
  • Asia Outbound
  • Retail

More Mingtiandi

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


© 2007-2022 China Advertising Media Ltd (Samoa). All rights reserved.