Cushman & Wakefield Facilitates US$400 Million Transaction of Mixed-Use Development in Beijing
Summary
CHICAGO--(BUSINESS WIRE)--Cushman & Wakefields (NYSE: CWK) Greater China Capital Markets team recently facilitated the acquisition by CapitaLand Investment Private Fund of the Beijing Suning Life Plaza mixed-use development from Suning for approximately US$400 million. Located in the Chaoyang central business district, the property has a total gross floor area of approximately 714,000 square feet comprising both office and retail space. “We are honored to have facilitated and brokered the Beijing Suning Life Plaza investment deal. Following the acquisition, the fund plans to renovate a section of the commercial area for office use,” said Charli Chan, Cushman & Wakefield’s Executive Director, Capital Markets, Greater China. This transaction has also reinforced market confidence and demonstrates the rebound of positive sentiment for international funds investing in mainland China.” “Thanks to the long-term commitment and close follow-up from our team, we have been able to capture this high-quality investment opportunity, paving the way for further transactions in 2023,” said Francis Li, Cushman & Wakefield’s International Director, Head of Capital Markets, Greater China.