Property News · January 20, 2021

R&F Properties sells majority stake in bay area logistics park for US$1.1 billion as China’s indebted developers look to offload assets


R&F Properties has raised US$1.1 billion by selling a majority stake in its huge urban logistics park in the Greater Bay Area in a sign that heavily indebted mainland Chinese developers are gearing up to offload assets.The sale of a 70 per cent stake in Guangzhou International Airport R&F Integrated Logistics Park to Blackstone Real Estate has been completed, according to a statement from Blackstone on Wednesday. The mainland developer still holds the remaining 30 per cent.Savills predicted…

Source : South China Morning Post
Read more…R&F Properties sells majority stake in bay area logistics park for US.1 billion as China’s indebted developers look to offload assets