Singapore-headquartered private equity real estate firm SC Capital Partners has acquired industrial land in China’s Suzhou Industrial Park. The purchase was made jointly by Shanghai-based industrial and logistics developer THi Holding Management Corp.
According to a news release the two partners bought a rectangular parcel of land that is more than the area of 50,000 square meters (538,196 sq feet). SC Capital Partners and THi are planning to turn the property into a Grade-A industrial plant that will target high-end companies. The finished facility will have more than 103,000 square meters (1.1 million square feet) of net lettable space with rooftops fitted by solar panels. Zero Point, an electric battery company for vehicles was chosen as one of the tenants anchoring.
The acquisition is SC Capital Partners’ second investment in Suzhou Industrial Park, a logistics and manufacturing hub. Suchad Chiaranussati, chairman and the founder of SC Capital Partners, says this acquisition strengthens the partnership with THi in exploring expansion opportunities in the manufacturing and logistics industry in Suzhou, which is located in the Yangtze River Delta, adding: “This new asset in Suzhou Industrial Park is an ideal addition to our opportunistic fund series that invests in developed markets of Asia Pacific.” Asia Pacific.”
Sarah Hu, director and general manager of THi Management, says demand for regional logistics and industrial infrastructure is likely to be robust. “Working together with partners with established relationships and know-how in the field is crucial to ensure the success of investment strategies,” she adds.