CapitaLand transfers interest in Shanghai buildings to maiden discretionary PE fund

A laborer walks in front of a CapitaLand logo at a construction site in Singapore. Photographer: Charles Pertwee/Getty Images

Singapore-listed real estate developer CapitaLand is divesting its interest in Shanghai’s Innov Center to CapitaLand Asia Partners I (CAP I), its maiden discretionary real estate equity fund, at an agreed property value of 3.1 billion yuan ($448 million).

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