Real estate PE fund purchases Shanghai office tower
December 01, 2010 | BY
clpstaff &clp articlesAscendas China Commercial Fund (ACCF) has acquired real estate asset, Cross Tower, for Rmb 1.9 billion (US$286 million). The target is a commercial building…
Ascendas China Commercial Fund (ACCF) has acquired real estate asset, Cross Tower, for Rmb 1.9 billion (US$286 million). The target is a commercial building located in the central business district of Shanghai and it was sold to ACCF by SEB Asset Management. Standard Chartered Bank provided financing to ACCF, a real estate private equity fund of Singapore-based Ascendas Group.
Representing Standard Chartered Bank on PRC law was Zhong Lun Law Firm and on Hong Kong law, an Orrick Herrington & Sutcliffe team led by Michelle Taylor and Donna Healy. Rajah & Tann advised on Singapore law.
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