T&C Law Firm, Jincheng Tongda & Neal and Yuan Tai Law Offices advised parties involved in the first biomedical industrial park real estate investment trust (REIT) listing in China, raising RMB1.404 billion (USD210 million).
China Asset Management (ChinaAMC) and Heda Hi-Tech Development Group jointly issued the ChinaAMC-HEDA REIT, which listed on the Shenzhen Stock Exchange at RMB2.808 per share.
T&C and Yuan Tai Law Offices advised on the ChinaAMC-HEDA REIT. Partners Liu Bin and Chen Xiaofeng led the T&C team, while Yuan Tai’s leading partners were Liao Hai and Liu Jia.
Jincheng Tongda & Neal’s senior partners Wang Mingkai and Peng Jun advised the fund manager ChinaAMC.
ChinaAMC has issued six REIT listings, making it the most prolific REIT manager in the country.
Funds raised from the ChinaAMC-HEDA REIT listing will be invested in the HEDA Pharma Valley Phase V and the Valley Core project located in Hangzhou, with an average occupancy rate of more than 90 per cent.
The project assets are located in the Qiantang New Area, a hub for the development of the biomedical industry in Hangzhou, where more than 1,500 biomedical companies are based.