By Bloomberg News
Wanda has estimated that its combined investment costs in the projects is $2.1 billion.
In multiple real estate related developments, Metro Holdings, First Sponsor and Roxy Pacific have struck deals to acquire properties.
Tencent, Warburg Pincus and Sequoia are among VCs betting on rental management startups to win a slice of the market.
The latest investment marks the extension of the two firms’ partnership, which started in 2014, and the third deal between CPPIB and Longfor.
The deal is the latest in a string of asset sales that underscore financial strains hitting the Chinese conglomerate.
The Kantharyar Centre sits on a four-acre government land comprising residences, offices, Wyndham five-star hotel and serviced apartments.
ESR-REIT and Viva Industrial own real estate valued at a combined $2.3 billion.
This could be the acquisitive conglomerate’s first-ever disposal of an overseas property as it struggles with mounting debts.
The fund is open to Australian resident wholesale investors who put in a minimum $50,000.
It’s unusual for developers in Hong Kong to raise funds for projects through outside investors because they can easily borrow money from banks at low rates.