Baker McKenzie advised Link REIT ("Link"), Asia's largest real estate investment trust, on its disposal of 12 retail properties amounting to over HK$12.01 billion to a consortium led by Gaw Capital. Link intends to use the proceeds of the sale for new investment opportunities in Hong Kong and first-tier cities on Mainland China.
Last year, Baker McKenzie also advised Link when it sold 17 similar retail assets to a consortium also led by Gaw Capital amounting to HK$23 billion.
The Baker McKenzie team was led by Real Estate Partners, Debbie Cheung and Edmond Chan based in Hong Kong.
Baker & McKenzie's Asia-Pacific Real Estate and REIT Groups have been at the forefront of ground-breaking REIT transactions in Asia. The Firm has been involved in almost all of the significant transactions to date involving REITs which are listed or have assets in Hong Kong. The Group's work includes advising REITs across the full spectrum of their legal requirements including IPOs, follow-on acquisitions and disposals, equity and debt capital markets exercises, takeover defence and licensing/regulatory matters. Hong Kong based clients of the Group include Spring REIT, Link REIT, Champion REIT, Yuexiu REIT, Prosperity REIT, Fortune REIT, Hui Xian REIT and Regal REIT.
The Firm has also advised on numerous other significant REIT-related deals in the Asia-Pacific – including National Storage REIT’s equity raising; Charter Hall Retail REIT’s placement in ASX; Keppel REIT’s establishment of Australian investment structures; Parkway Life REIT’s acquisition of two properties in Japan; CDL Hospitality Trusts / M&C REIT Management acquisition of two hotels in Japan; Starhill Global REIT on the acquisition of the landmark David Jones retail center in Perth; the establishment of Impact Growth REIT in Thailand; Prospect REIT Investment Corporation's merger with Japan Rental Housing Investments Inc.; the establishment and IPO of Tower REIT in Malaysia; the IPOs and listings of both the Fubon No. 1 and No. 2 REITs in Taiwan; the formation and IPO of MacarthurCook Industrial REIT in Singapore; Tokyo Growth J-REIT’s IPO; the IPO and listing of ARA Asset Management in Singapore; and YTL Corporation’s acquisition of interests in Macquarie Prime REIT (now known as Starhill Global REIT).