DEALS
Zhong Lun Advises Link on Acquisition of 50% Equity Interest in Shanghai Qibao Vanke Plaza
Zhong Lun Advises Link on Acquisition of 50% Equity Interest in Shanghai Qibao Vanke Plaza
Recently, Link Real Estate Investment Trust (“Link") announced that it had completed the acquisition of the remaining 50% equity interest in Shanghai Minghang Qibao Vanke Plaza. Prior to this transaction, Link indirectly held 50% equity interest in the project. Upon completion of this transaction, Link holds 100% equity interest in Qibao Vanke Plaza.
Qibao Vanke Plaza is located in the core area of Qibao in Minhang District, Shanghai, adjacent to Qibao Ancient Town. It was completed in 2016 and opened to the public in the same year. According to the 2022 annual report of Vanke Group, Qibao Vanke Plaza’s robust performance had earned itself the first place in turnover among all the retail projects operated and managed by Vanke Group.
As the largest listed real estate investment trust fund in Asia by market value, Link has frequently made high-profile transactions in first-tier cities across China in recent years. This transaction further exemplifies Link’s strength.
Zhong Lun acted as the PRC legal advisor to Link in this transaction, providing full-range legal services for transaction structuring, due diligence, compliance analysis, documentation and negotiation, issuance of the PRC legal opinions, and closing. Zhong Lun will continue to assist Link with the handover of operation and management. This project is a fine example of Zhong Lun representing overseas REITs investing in real estate in China. Zhong Lun’s legal team, by virtue of its deep expertise in the field of real estate transactions and extensive experience in advising large investment institutions, has provided high-quality, efficient, and professional legal services to clients.
This project was led by equity partners Ellen Chan and Sally Jiang, as well as non-equity partner Jelly Cao. The team members also included Eva Lin, Viola Shen, Helen Ruan, Tom Dong, Kelsey He, and Yvonne Xiao.
