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Link Reit (0823.HK)
29-11-2017, 11:10 PM.
Post: #1
Link Reit (0823.HK)
Link Reit sells 17 Hong Kong malls to Gaw-Goldman venture for HK$23 billion

Peggy Sito and Shirley Zhao
PUBLISHED : Tuesday, 28 November, 2017, 5:46pm
UPDATED : Wednesday, 29 November, 2017, 8:17am

Link Reit, the largest real estate investment trust in Asia, on Tuesday announced the sale of a portfolio of properties that includes 17 Hong Kong shopping centres for HK$23 billion (US$2.94 billion) – the biggest sale of its kind in the city – despite criticism from activist groups that this could lead to a rise in rents.

Link Reit said it would sell commercial property totalling 2.2 million square feet to a consortium led by Hong Kong-based private equity fund Gaw Capital Partners, confirming an earlier report by the South China Morning Post. US-based investment bank Goldman Sachs is part of the consortium.

The shopping centres are located in Kowloon and the New Territories close to subway stations and also includes more than 8,000 car parking spaces.

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