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.
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!