The transaction in the capital of eastern China’s Jiangsu province, announced on 22 December, is a departure from Grosvenor’s stated strategy of targeting Asia Pacific gateway cities like Tokyo, Hong Kong and Shanghai. The seller, debt-riddled conglomerate Sanpower Group, is taking a 35 percent loss after buying Nanjing IFC for RMB 2.48 billion in 2014 from a fund managed by Singapore’s ARA Asset Management. Asia real estate and outbound investment news, 2020/12/28 by Christopher Caillavet Leave a Comment, Sanpower Group is taking a 35 percent loss on the sale of Nanjing International Financial Center. The Grosvenor Estate represents all the business activities of the Grosvenor Family, headed by the Duke of Westminster. Grosvenor Group | 25 372 abonnés sur LinkedIn | We develop, manage and invest, improving property and places to deliver lasting commercial and social benefit | Grosvenor Group is a privately-owned international property company. The conglomerate, which has interests spanning tech, media, property and retail, made headlines in recent years for its growing mountain of debt after an overseas expansion that saw it buy an 89 percent stake in department store operator House of Fraser for £155 million ($259 million) in 2014. Earlier in his career Peter was a Partner at IBM Business Consulting Services and PricewaterhouseCoopers. Peter is a Trustee of Peabody and a non-executive director of Berkeley Group Holdings Plc. Learn how your comment data is processed. Your email address will not be published. Is a privately-owned international property company. View Joel Grosvenor, CFA’S profile on LinkedIn, the world’s largest professional community. Read more. Hong Kong-listed developer Shui On Land Ltd and the UK’s family-held Grosvenor Group have agreed to form a 50:50 joint venture to purchase the Nanjing International Financial Center office tower for RMB 1.62 billion ($250 million), according to an announcement to the Hong Kong stock exchange last week. Guiding a vision for alternative investing since 1971 | GCM Grosvenor is a global alternative asset management firm with $55 billion in assets under management in private equity, infrastructure, real estate, credit, and absolute return strategies. Dawn has 2 jobs listed on their profile. The property at No.1 Hanzhong Road in Nanjing’s Qinhuai district, not to be confused with Sun Hung Kai’s similarly named project in the same city, has a gross floor area of 109,196 square metres (1,175,376 square feet) and consists of a 45-storey Grade A office tower and a seven-storey retail podium. The deal marks a new milestone in the restructuring of Sanpower, a Nanjing-based conglomerate that reached for a role on the global stage with its takeover of Britain’s House of Fraser in 2014 in a £480 million ($650 million) deal, before defaulting on an estimated $400 million in debt two years ago. 「人とつながる、未来につながる」LinkedInはビジネス特化型SNSです。ユーザー登録をすると、FUMIAKIさんの詳細なプロフィールやプロフェッショナルネットワークを無料で閲覧できます。ダイレクトメッセージで直接やりとりも可能です。 Grosvenor Group is part of the Grosvenor Estate © 2020 Grosvenor Ltd. All rights reserved. Peter is responsible for the oversight of three of the Group's regional operating companies; Grosvenor Britain & Ireland, Grosvenor Americas and Grosvenor Asia Pacific, as well as for the Group's research function. 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The fund had acquired the then newly completed office tower from China Merchants Property Development in December 2008, while it was still vacant, for RMB 1.6 billion. Peter was educated at Sheffield Hallam University (BSc Hons Urban Land Economics) and completed the Corporate Finance Program and London Business School. Joining Grosvenor Britain & Ireland as Executive Director of the London Estate in 2005, Peter became its Chief Executive in 2008 before taking on his Group role at the end of 2016. With a track record of over 340 years, we develop, manage and invest with a purpose of improving property and places to deliver lasting commercial and social benefit. Earlier in his career Peter was a Partner at IBM Business Consulting Services and PricewaterhouseCoopers. Grosvenor’s chief executive for Asia Pacific is Benjamin Cha, scion of the founding family of Hong Kong developer HKR International Ltd. It is one of the largest, most diversified independent alternative asset management firms worldwide. Joining Grosvenor Britain & Ireland as Executive Director of the London Estate in 2005, Peter became its Chief Executive in 2008 before taking on his Group role at the end of 2016. View Grosvenor Batanyita’s profile on LinkedIn, the world’s largest professional community. At the announced consideration, the Shui On-Grosvenor joint venture is paying the equivalent of RMB 14,835 per square metre for the tower in Nanjing’s Qinhuai district. See the complete profile on LinkedIn and discover Joel’s connections and jobs at similar companies. With a track record of over 340 years, we develop, manage and invest with a purpose of improving property and places to deliver lasting commercial and social benefit. Sectors include retail where our impressive range of clients includes Westfield, Bicester Village and M&S. Nanjing-based Sanpower is reportedly one of the largest private enterprises in Jiangsu province. This site uses Akismet to reduce spam. He is also member of the Grosvenor Group Board and Chair of the Group Executive Committee. Grosvenor Estate. He is a Fellow of the Royal Institution of Chartered Surveyors. See the complete profile on LinkedIn and … This website uses cookies to improve your experience of our website. View Bindi Watts’ profile on LinkedIn, the world’s largest professional community. Less than four years later, Sanpower sold a majority stake in the chain after opening only two stores in mainland China. Filed Under: Finance Tagged With: Featured, Grosvenor, Nanjing, Nanjing IFC, SanPower Group, Shui On Land, weekly-sp, Your email address will not be published. Bindi has 4 jobs listed on their profile. Hong Kong-listed developer Shui On Land Ltd and the UK’s family-held Grosvenor Group have agreed to form a 50:50 joint venture to purchase the Nanjing International Financial Center office tower for RMB 1.62 billion ($250 million), according to an announcement to the Hong Kong stock exchange last week. It is one of the world’s largest independent alternative asset management firms. See the complete profile on LinkedIn and discover Grosvenor’s connections and jobs at similar companies. Required fields are marked *. In February 2014, ARA Asia Dragon Fund, managed by Singapore’s ARA and invested by Li Ka-shing’s Cheung Kong Holdings (now part of CK Asset), concluded the sale of Nanjing IFC to Sanpower for RMB 2.48 billion in the largest en-bloc deal ever for a stabilised commercial asset in the Yangtze River Delta region outside of Shanghai. Grosvenor Estate | 455 followers on LinkedIn. Grosvenor has 7 jobs listed on their profile. As of Monday, Grosvenor had made no mention of the Nanjing IFC stake on its company website, and had not commented in response to inquiries from Mingtiandi. View Dawn Grosvenor’s profile on LinkedIn, the world’s largest professional community. Identifying and managing new investment opportunities – deploying the business’ investment and estate management skill in areas off the London estate; ... Linkedin: Grosvenor Group. GCM Grosvenor is a global investment and advisory firm headquartered in Chicago that specializes in hedge funds, private equity, real estate and infrastructure investments. With a track record of over 340 years, we develop, manage and invest with a purpose of improving property and places to deliver lasting commercial and social benefit. Things are heating up as the Australian summer approaches, with China’s sovereign wealth fund paying A$925 million ($674 million) to purchase a 50 percent stake in Sydney’s Grosvenor Place office tower in 2020’s biggest commercial property deal Down Under. See the complete profile on LinkedIn and discover Dawn’s connections and jobs at similar companies. Grosvenor Group | 24,796 followers on LinkedIn | We develop, manage and invest, improving property and places to deliver lasting commercial and social benefit | Grosvenor Group is a privately-owned international property company. Grosvenor Services | 1,098 followers on LinkedIn | Expertise you can rely on | A leading provider of cleaning and facilities management services across Ireland, UK and the USA. Rachel Garstang Head of Corporate Communications Grosvenor … We develop, manage and invest, improving property and places to deliver lasting commercial and social benefit | Grosvenor Group is a privately-owned international property company. Grosvenor Group | 26,696 followers on LinkedIn. With a track record of over 340 years, we develop, manage and invest with a purpose of improving property and places to deliver lasting commercial and social benefit. GCM Grosvenor | 8,507 followers on LinkedIn. The only previous mainland asset outside Shanghai owned by Grosvenor, a property group controlled by the Duke of Westminster, was an eight-floor interest, later sold, in the China Merchants Tower in Beijing. Grosvenor Britain & Ireland’s oldest and best-known asset is its London estate, 300 acres in Mayfair and Belgravia - two of London’s finest districts. New Homes. Sanpower CEO Yuan Yafei is feeling less acquisitive this year. In July of this year, mainland media group Caixin reported that Sanpower planned to restructure RMB 65.1 billion in debt through asset sales and RMB 10 billion through help from bad-debt manager China Cinda Asset Management Co Ltd. As of March, the company had RMB 65.1 billion in interest-bearing financial debt owed to multiple creditors, including more than 130 financial institutions, according to materials seen by Caixin. Asia Proptech 2021: COVID-19 Accelerates a Trend, Panel Talk: Tech Adoption in Logistics Real Estate, Promote Your Brand with the Mingtiandi Proptech Forum 2021. Joel has 6 jobs listed on their profile. We are an independent, family run, long established, Estate Agency, specialising in residential sales and lettings, commercial sales and lettings, land development, new homes and property management. Grosvenor Group. 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