Another investor for Asian portfolio
ESR, an investor in real estate assets in the APAC region, is welcoming another institutional investor on board. The Chinese investor, whose identity was not revealed, will "recap a prime logistics and industrial portfolio (total GFA over 873,000 sqm) from ESR’s balance sheet."
In practical terms, this portfolio consists of nine completed logistics and industrial assets located in different regions in China, including the Yang-tze River Delta Region, the Greater Bay Area, and the Beijing-Tianjin-Hebei Region. 98% of the properties are currently occupied.
With the transaction, the overall portfolio managed by ESR with the investor now expands to over 1.4 million sqm. As to sustainability, the group aims at increasing its solar power generation capacity to 50% by 2025. (sh)