DEALS
Zhong Lun Advises SOHO China on Acquisition of Caojiadu Land Project in Shanghai
Zhong Lun Advises SOHO China on Acquisition of Caojiadu Land Project in Shanghai
On April 1, 2011, SOHO China Limited (“SOHO China"), a leading Chinese commercial property developer, announced that an agreement has been reached with Shanghai JingAn Real Estate (Group) Co., Ltd. to acquire Lot 716-794, Wanhang Du Road, Caojiadu, JingAn District, Shanghai (the “Project") at a total consideration of approximately RMB1,634 million.
This is the fifth acquisition made by SOHO China since its first entry into Shanghai, marked by the acquisition of the Exchange SOHO in August 2009. In one and a half years, SOHO China proposed and made five acquisitions, establishing its presence in five highly vibrant and easily accessible commercial districts of Shanghai.
Zhong Lun Law Frim acted as legal counsel for SOHO China in the acquisition. The professional service team included partner Hao Han and attorney-at-law Wen Na. Services included transaction structure design, due diligence on the project and project company, documentation and negotiations, and legal opinions.
Caojiadu Land Project encompasses an area of approximately 14,832 m2 and is for commercial, residential and office use. Its total planned gross floor area is approximately 81,000 m2, including 51,136 m2 above ground gross floor area (of which approximately 13,946 m2 is for residential use and 37,190 m2 is for commercial and office use). The planned underground gross floor area is approximately 30,000 m2, including 6,000 m2 commercial area and auxiliary car parks.