Stories
Diamond Plaza
01 The Deal
| Address | No. 19 Building Z-Park, Shangdi, Haidian District, Beijing |
|---|---|
| Property type | Office |
| GFA (sqm) | 22,667 sqm |
| Seller | Sino-Ocean Capital |
| Buyer | ACR Asset Management |
| Deal Structure | Onshore Equity Deal |
02 The Challenge
This is the first time ACR has purchased a project in Beijing. Due to the outbreak of COVID-19 and the government requirements on travel restrictions and quarantine, both parties in the transaction could not have a face-to-face communication, and the buyer can't come to Beijing to do the project inspections. These factors have brought great challenges to the progress of the transaction.
03 The Solution
Beijing capital market team has communicated with the buyer many times and used technological innovation to realize online project viewing. Based on the buyer's trust, Beijing CM team got the full authority to perform on-site due diligence, and conduct a comprehensive assessment of the project area, which also gave them enough confidence in the project's prospects and growth potential.
04 The Result
Thanks to the trust of both parties and the good growth potential of the project, although the epidemic has made many time nodes uncontrollable, with the active cooperation and coordination of all parties, the transaction was completed in only 4 months.
The founder of ACR Asset Management, Edward Cheung, said: “In this takeover, we adopted our investment strategy to respond to the near-term economic transition and market adjustment, namely, focusing on dynamic submarkets in China’s emerging industries, such as hi-tech innovation park properties that act as platforms for industrial innovation.”
The founder of ACR Asset Management, Edward Cheung, said: “In this takeover, we adopted our investment strategy to respond to the near-term economic transition and market adjustment, namely, focusing on dynamic submarkets in China’s emerging industries, such as hi-tech innovation park properties that act as platforms for industrial innovation.”
MEET THE TEAM
Gordon Liu
Managing Director, Capital Markets, China, Head of Capital Markets, North China
Beijing, Greater China
WE’RE ON HAND TO HELP
Contact us to discuss how our experience on this project could be translated to your business requirements.
Related insights
Insights • Investment / Capital Markets
Asia Pacific Capital Markets Overview - Spotlight on India
As Asia Pacific begins to show signs of recovery from COVID-19, led by a rebound originating from China, what is the current status of the commercial real estate market and where is it headed?
Anna Town • 03/03/2021
Insights • Investment / Capital Markets
What’s next for China’s CRE Investment Market Spotlight on Shenzhen : 2020 Review & 2021 Outlook
As China emerges from the COVID-19 outbreak ahead of other major global economies, what’s the current status of the country’s commercial real estate (CRE) market and where is it headed?
20/01/2021
Insights • Investment / Capital Markets
Q2 Asia Pacific Capital Markets Webinar - Spotlight on Seoul
As Asia Pacific begins to show signs of recovery from COVID-19, led by a rebound originating from China in Q2, what is the current status of the commercial real estate market and where is it headed?
More stories like this one
