Link Taps Yangtze River Delta Logistics Sector
May 13, 2022 – Link Real Estate Investment Trust announced that it has agreed to acquire a 100% interest in a prime logistics portfolio in the affluent Yangtze River Delta (YRD) which consists of three well-located modern warehouses at a total consideration of RMB 947 million (approximately HK$1,102 million.
The acquisition price is based on the agreed property value of RMB 1,106 million, which represents a discount of 2% to the appraised property value of RMB 1,128 million as at the valuation date.
The acquisition is subject to the approval of the shareholders of the seller group, Fujian Dongbai Group Co. Limited at their general meeting expected to be held in May 2022.
Located in the well-established logistics hubs in the Yangtze River Delta, the portfolio consists of three high-quality modern warehouses in Jiaxing, Zhejiang Province and Changshu, a county-level city under the jurisdiction of Suzhou, Jiangsu province. With excellent connectivity in the Greater Shanghai area through artery expressways, both Jiaxing and Changshu are satellite cities of Shanghai, within its 1.5 hour economic circle and strategically located to serve surging demand from third-party logistics (3PL), e-commerce and the consumer product sector as regional distribution centres.
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