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Keppel Land and Alpha-managed funds acquire Shanghai mall

Published on Feb 14, 2013 8:30 PM

KEPPEL Land and funds managed by Alpha Investment Partners have acquired an effective 80 per cent stake in a mixed-use development in Shanghai.

Keppel Land China acquired 34 per cent for US$126.5 million (S$155.6 million) while an Alpha fund and a co-investor bought 46 per cent for US$171.1 million.

Alpha is the property fund management arm of Keppel Land.

The development, Lifehub @ Jinqiao in Shanghai's Pudong district, comprises 98,630 sq metres (sqm) of retail and 16,102 sqm of office space. It is more than 99 per cent leased.

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