Brookfield to invest up to $750 mln in Shanghai office and retail assets
Brookfield Property Partners LP (NYSE: BPY, TSX: BPY.UN), the recently spun-out commercial real estate platform of Toronto-based Brookfield Asset Management, has with its institutional partners agreed to buy China Xintiandi (CXTD) a wholly-owned entity of Hong Kong developer Shui On Land (HK:272). The platform's first deal in China, Brookfield will invest up to US$750 million of preferred equity in CXTD, which owns office and retail assets in Shanghai. Brookfield indicated that it plans to secure around US$500 million in capital for additional investments in the commercial property sector in China.
31 October 2013•5 mins read
