Partners Group leads Ascent Real Estate Investors and Sigma Delta Partners Investment-fronted consortium to acquire Beijing 's Dinghao Plaza
Press release
Baar-Zug, Switzerland, 28 March 2019
Partners Group, the global private markets investment manager, has acquired a majority equity stake in Dinghao Plaza, a large mixed-use office and retail complex in Beijing, on behalf of its clients. The firm has partnered with a consortium including Ascent Real Estate Investors, Sigma Delta Partners Investment and the Family Office Company in the off-market acquisition, which had a total transaction value of USD 1.34 billion.
Dinghao Plaza is a 176,976 square meter mixed-use building complex situated in the heart of Beijing's ZGC area, known as the 'Silicon Valley of China', with direct underground access to the ZGC metro station. Constructed in 2003, the property currently contains a large retail podium and two office towers. It offers a value creation proposition that is focused on repositioning under-used retail space for office use and undertaking a large-scale refurbishment of the existing office towers to bring them to Grade A standard.
Rahul Ghai, Managing Director, Private Real Estate Asia, Partners Group, states: "Dinghao Plaza is ideally located in ZGC, Beijing's vibrant tech and media area, where demand for large, contiguous, and premium office space is high and supported by the strong growth of China's technological sector. The acquisition of Dinghao Plaza is a great fit with our longstanding 'buy, fix and sell' strategy, whereby we seek out properties in prime locations that can benefit from repositioning with sufficient time and capital. Together with our consortium partners, we plan to undertake a multi-year value creation program which will transform Dinghao Plaza into a core real estate asset."
About Partners Group
Partners Group is a global private markets investment management firm with EUR 73 billion (USD 83 billion) in investment programs under management in private equity, private real estate, private infrastructure and private debt. The firm manages a broad range of customized portfolios for an international clientele of institutional investors. Partners Group is headquartered in Zug, Switzerland and has offices in Denver, Houston, New York, São Paulo, London, Guernsey, Paris, Luxembourg, Milan, Munich, Dubai, Mumbai, Singapore, Manila, Shanghai, Seoul, Tokyo and Sydney. The firm employs over 1,200 people and is listed on the SIX Swiss Exchange (symbol: PGHN) with a major ownership by its partners and employees.
www.partnersgroup.com
About Ascent Real Estate Investors
Ascent Real Estate Investors is a China-focused real estate investment manager. It was established by a team that span out from The Carlyle Group with 14 years of investment experience and a strong track record in China.
About Sigma Delta Partners Investment
Sigma Delta Partners Investment is an integrated investment management platform founded by the former Asia Real Estate head of Warburg Pincus. It focuses on acquiring, developing, and operating office and high-quality logistics properties in China.
About The Family Office Company
The Family Office Company is a Bahrain-based global asset manager providing private wealth management services to distinguished merchant families and prominent wealthy individuals in the Arabian Gulf.
Partners Group investor relations contact
Philip Sauer
Phone: +41 41 784 66 60
Email: [email protected]
Partners Group media relations contact
Jenny Blinch
Phone: +44 207 575 2571
Email: [email protected]
Press release
Baar-Zug, Switzerland, 28 March 2019
Partners Group, the global private markets investment manager, has acquired a majority equity stake in Dinghao Plaza, a large mixed-use office and retail complex in Beijing, on behalf of its clients. The firm has partnered with a consortium including Ascent Real Estate Investors, Sigma Delta Partners Investment and the Family Office Company in the off-market acquisition, which had a total transaction value of USD 1.34 billion.
Dinghao Plaza is a 176,976 square meter mixed-use building complex situated in the heart of Beijing's ZGC area, known as the 'Silicon Valley of China', with direct underground access to the ZGC metro station. Constructed in 2003, the property currently contains a large retail podium and two office towers. It offers a value creation proposition that is focused on repositioning under-used retail space for office use and undertaking a large-scale refurbishment of the existing office towers to bring them to Grade A standard.
Rahul Ghai, Managing Director, Private Real Estate Asia, Partners Group, states: "Dinghao Plaza is ideally located in ZGC, Beijing's vibrant tech and media area, where demand for large, contiguous, and premium office space is high and supported by the strong growth of China's technological sector. The acquisition of Dinghao Plaza is a great fit with our longstanding 'buy, fix and sell' strategy, whereby we seek out properties in prime locations that can benefit from repositioning with sufficient time and capital. Together with our consortium partners, we plan to undertake a multi-year value creation program which will transform Dinghao Plaza into a core real estate asset."
About Partners Group
Partners Group is a global private markets investment management firm with EUR 73 billion (USD 83 billion) in investment programs under management in private equity, private real estate, private infrastructure and private debt. The firm manages a broad range of customized portfolios for an international clientele of institutional investors. Partners Group is headquartered in Zug, Switzerland and has offices in Denver, Houston, New York, São Paulo, London, Guernsey, Paris, Luxembourg, Milan, Munich, Dubai, Mumbai, Singapore, Manila, Shanghai, Seoul, Tokyo and Sydney. The firm employs over 1,200 people and is listed on the SIX Swiss Exchange (symbol: PGHN) with a major ownership by its partners and employees.
www.partnersgroup.com
About Ascent Real Estate Investors
Ascent Real Estate Investors is a China-focused real estate investment manager. It was established by a team that span out from The Carlyle Group with 14 years of investment experience and a strong track record in China.
About Sigma Delta Partners Investment
Sigma Delta Partners Investment is an integrated investment management platform founded by the former Asia Real Estate head of Warburg Pincus. It focuses on acquiring, developing, and operating office and high-quality logistics properties in China.
About The Family Office Company
The Family Office Company is a Bahrain-based global asset manager providing private wealth management services to distinguished merchant families and prominent wealthy individuals in the Arabian Gulf.
Partners Group investor relations contact
Philip Sauer
Phone: +41 41 784 66 60
Email: [email protected]
Partners Group media relations contact
Jenny Blinch
Phone: +44 207 575 2571
Email: [email protected]