SF Real Estate Investment Trust’s $335 Million IPO

Harneys acted as British Virgin Islands and Cayman Islands counsel to SF REIT Asset Management Limited in relation to its SF Real Estate Investment Trust (SF REIT) listing on the Hong Kong Stock Exchange (HKEX) on 17 May 2021, raising approximately US$335 million. King & Wood Mallesons acted for SF Real Estate Investment Trust. Hogan Lovells advised DBS, Credit Suisse and J.P. Morgan. Baker & McKenzie acted as law counsel to the manager of SF Real Estate Investment Trust.

The listing is the 13th real estate investment trust (REIT) on the HKEX.

SF REIT is the first logistics-focused REIT to be listed on the HKEX and invests primarily in high quality, income-generating properties globally, with an initial focus on modern logistics properties in Hong Kong and the People’s Republic of China (PRC). SF REIT is managed by SF REIT Asset Management Limited whose investment objectives are to provide its investors with stable distribution and sustainable long-term growth.

Credit Suisse, JPMorgan and DBS were joint global coordinators, joint brokers and joint lead managers on the deal.

The Harneys team was led by co-global head of Corporate Raymond Ng (Picture) and Legal Manager Nicholas Fong, with support from Paralegal Alkafe Lam.

KWM Partners Sun Haotian in Guangzhou, Chen Hua in Beijing and counsel Wang Letao in Shanghai advised on the Hong Kong listing of SF REIT, with support from senior associate Li Nan and associate Li Yingwen. Partners Jessica Zhou and Chow Siu Ngor in Hong Kong, alongside partners Yang Xiaoquan and Qiu Liang in Guangzhou advised on the loan financing, with support from counsel Ivy Man and registered foreign lawyer James Tsang.

The Hogan Lovells team was led by Hong Kong Corporate partner Sammy Li, with support from New York partner Sina Hekmat. They were assisted by senior associates Samson Suen and Tiffany Lam, registered foreign legal consultant Simei Huang, and associate Ada Chan in Hong Kong.

The Baker McKenzie team was led by Jeremy Ong, partners Ivy Wong (Capital Markets), Dorothea Koo (Private Equity/M&A), Grace Fung (Financial Services), Debbie Cheung (Real Estate) and Simon Leung (Finance); and associates Isaac Yeung, Cynthia Lam and William Cho.

Involved fees earner: Debbie Cheung – Baker McKenzie; William Cho – Baker McKenzie; Grace Fung – Baker McKenzie; Dorothea Koo – Baker McKenzie; Cynthia Lam – Baker McKenzie; Simon Leung – Baker McKenzie; Jeremy Ong – Baker McKenzie; Ivy Wong – Baker McKenzie; Isaac Yeung – Baker McKenzie; Nicholas Fong – Harneys; Raymond Ng – Harneys; Ada Chan – Hogan Lovells; Sina Hekmat – Hogan Lovells; Simei Huang – Hogan Lovells; Tiffany Lam – Hogan Lovells; Sammy Li – Hogan Lovells; Samson Suen – Hogan Lovells; James Tsang – King & Wood Mallesons; Siu-Ngor Chow – King & Wood Mallesons; Sun Haotian – King & Wood Mallesons; Chen Hua – King & Wood Mallesons; Wang Letao – King & Wood Mallesons; Qiu Liang – King & Wood Mallesons; Ivy Man – King & Wood Mallesons; Li Nan – King & Wood Mallesons; Yang Xiaoquan – King & Wood Mallesons; Li Yingwen – King & Wood Mallesons; Jessica Zhou – King & Wood Mallesons;

Law Firms: Baker McKenzie; Harneys; Hogan Lovells; King & Wood Mallesons;

Clients: Credit Suisse; DBS; JP Morgan; SF Real Estate Investment Trust; SF REIT Asset Management Limited;

Author: Sonia Carcano