Quartet acts for China’s first group of REIT expansions

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Quartet acts for China’s REIT expansions
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Haiwen & Partners, Han Kun Law Offices, King & Wood Mallesons (KWM) and Zhong Lun Law Firm counselled China’s initial set of four infrastructure real estate investment trust (REIT) expansion projects.

These expansion projects are listed on the SSE or the SZSE, raising more than RMB5 billion (USD691 million). The proceeds will be invested in warehouse logistics and industrial parks.

The four law firms assisted the fund managers and participating institutions in communicating with the relevant regulators in the absence of any precedent for REIT expansions.

The expansion projects include CICC-GLP Logistics REIT assisted by Haiwen’s leading partner Wang Yao; HuaAn Zhangjiang REIT advised by Han Kun’s leading partner Joyce Li; Bosera China Merchants Shekou Industrial Zone REIT counselled by Zhong Lun’s partners Wei Yidong and Liu Hongjiao; and Hotland Innovation Yantian Port REIT, assisted by partners Li Wenmin and Hu Lingbo at KWM.

Expanding the assets will help diversify investment risks for public REITs and generate additional income for the fund, while also attracting new investors and increasing the fund’s size, thereby improving its secondary market liquidity.

In March, the China Securities Regulatory Commission and the National Development and Reform Commission launched a policy aimed at promoting the regular issuance of REITs. The policy includes measures such as enhancing the review and registration process, establishing a comprehensive regulatory framework, and improving supportive policies.

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