Ascent Real Estate Investors and Sigma Delta Partners Investment Consortium $1.34 Billion Acquisition of Dinghao Electronics Plaza in Beijing

Clifford Chance and Paul Hastings advised the buyer group on the deal

Ascent Real Estate Investors and Sigma Delta Partners Investment formed a consortium in order to executed the$1.34 billion acquisition of Dinghao Electronics Plaza, a landmark complex located in the core area of Zhongguancun, Beijing. The transaction is one of the largest-ever foreign investor acquisitions of a Beijing commercial real estate asset.

ARE is a new China-focused real estate investment manager established by the China real estate team recently spun off from The Carlyle Group, the Washington, DC-based private equity firm. This is ARE’s first investment. SDP Investment is an integrated investment management platform focusing on acquiring, developing, and operating high quality office, retail and logistics properties in China. Partners Group, the Switzerland-based private markets investment management firm, is the majority equity investor in the investor consortium. The consortium also includes The Family Office Company, a Bahrain based global asset manager.

Dinghao Electronics Plaza is located in No.3 Haidian Street, Zhongguancun, Beijing. The Zhongguancun area is known as the “Silicon Valley of China” because many of the nation’s top technology firms are located there.

The Paul Hastings team was led by Hong Kong Real Estate partners David Blumenfeld (Picture) and Paul Guan, Beijing Corporate partner Meka (Qingkai) Meng and Shanghai Real Estate associate Elyn He, with support from Sean Zhang, Cece Yang, Lawrence Sham and Peter Zhang.

Clifford Chance advised the consortium with a team led by Andrew Whan.

Involved fees earner: Andrew Whan – Clifford Chance; David Blumenfeld – Paul Hastings; Paul Guan – Paul Hastings; Elyn He – Paul Hastings; Meka Meng – Paul Hastings; Cece Yang – Paul Hastings;

Law Firms: Clifford Chance; Paul Hastings;

Clients: Ascent Real Estate Advisors LLC; Sigma Delta Partners Investment;

Author: Michael Patrini