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JunHe Assisted Link Real Estate Investment Trust in its Acquisition of the Shenzhen New Yijing Business Center


On March 14th 2019, Link Real Estate Investment Trust (stock code: 823, followed as “Link Real”) announced that it had completed the acquisition of 100% equity of Baoyi Property Management (Shenzhen) Co., Ltd. (followed as “target company”) held by Central Walk (Barbados) Company Ltd. (followed as “seller”) through Preston River (HK) Limited (followed as “buyer”) and became the exclusive owner of the New Yijing Business Center.

The deal target of the project was the New Yijing Business Center, the property is a 5-floor shopping mall located in the central area of Shenzhen (Fuhua Road, Futian Central District), the retail space is around 93,899.72 m2 with 741 parking spaces, providing shopping, leisure, sightseeing, beverage, entertainment and cultural experiences. The target property values is around RMB 6.6 billion.

Link Real is an accumulating investment plan recognized by the HKEx, its fund unit was listed on the mainboard of the HKEx in 2005 and became the largest REITs in Asia. Link Real Asset Management company acts as the manager, in managing a range of multiple property combinations of retail stores, offices properties and parking spaces in Hong Kong and China Mainland. Up to September 30th 2018, the properties and parking spaces held by Link Real in Hong Kong and China Mainland have a total value of more than HKD 210 billion.

JunHe acted as the PRC legal counsel to Link Real and provided a whole set of legal services to the target company and target property including conducting due diligence, design and demonstration of the deal plan, providing PRC law oriented advice on equity transfer documents, conducting legal opinions on the target property, modifying the financial documents and assisting in the equity pledge release of target company, equity transfer registration and delivery.

Link Real entered the Mainland market in 2015 and purchased a series of commercial properties in Beijing, Shanghai and Guangzhou, but this project was the largest single commercial property deal in the Beijing market in 2018, which created the first commercial property deal in the Tongzhou District and provided a significant change to the property market in Beijing. The project lasted for around 7 months, and the JunHe team provided solutions and support not only in providing legal documents but also in conducting business based on JunHe’ s thorough understanding and experience of the project. Moreover, the JunHe team also negotiated efficiently and collaborated thoroughly with the project company and other intermediaries, pushing forward the finalization and delivery of the project smoothly, the JunHe team’s performance was highly recognized by the client and other involved parties.

The leading partners for the project were Ms. TANG, Yue and Mr. XIONG, Ming.

JunHe is the only Chinese law firm to be admitted as a member of Lex Mundi and Multilaw, two international networks of independent law firms. JunHe and selected top law firms in major European and Asian jurisdictions are “best friends.” Through these connections, we provide high quality legal services to clients doing business throughout the world.