DEALS
Zhong Lun Advises China Ping An Trust & Investment Co., Ltd. on REIT
Zhong Lun Advises China Ping An Trust & Investment Co., Ltd. on REIT
China Ping An Trust & Investment Co., Ltd., a subsidiary of Ping An Insurance (Group) Company of China, Ltd., issued on January 13, 2010 a real estate investment trust (REIT) to fund a real estate project developed by Hangzhou-based developer Greentown China Holdings.
The proceeds of the REIT will amount to RMB1.5 billion, the initial investment under an investment agreement entered into between Greentown China Holdings and China Ping An Trust & Investment in 2009. Under the agreement, Ping An Trust & Investment would contribute approximately RMB15 billion toward real estate projects over the next three years.
Zhong Lun Law Firm Beijing and Shenzhen offices provided full services for the project, including due diligence, acquisition of entrusted loan, structuring, drafting and reviewing of relevant documents. Partner Liu Borong from Beijing office led the service team which mainly consisted of partner Joey Whoo from Shenzhen office and associate Yang Yanni from Beijing office.
