ESR sets up RBM 10 billion income fund
ESR Group has established its largest-ever RMB income fund with one of China’s major insurance companies, launching with a total investment capacity of approximately RMB 10 billion. The fund will be seeded with a prime logistics portfolio of RMB 2.3 billion from ESR’s balance sheet, and the transaction is expected to be closed in H2/2023.
The seed portfolio contains six stabilised assets strategically located in major logistics and industrial hubs in different regions in China, including the Yangtze River Delta Region, the Greater Bay Area, and the Beijing-Tianjin-Hebei Region.
Moreover, ESR aims to increase its rooftop solar power generation for selected assets of the portfolio to further its decarbonisation efforts in line with the Group’s ESG 2030 roadmap to set up 1,000 MW of solar power capacity on the rooftop of assets. (mk)