ESR Sells Stake in China Logistics Property Holdings
Posted on 05/24/2022
Hong Kong-listed ESR, which manages and invests in logistics properties, sold its 18.16% stake at HK$ 4.35 per share in China Logistics Property Holdings Co., Ltd. for HK$ 2.7 billion. ESR claims it gained a total of US$ 134 million from the investment. ESR sold 630 million shares, comprising an 18.16% stake in China Logistics.
“Post the acquisition of ARA, we are very well-positioned with our strong balance sheet, active capital recycling efforts and accelerating asset light strategy to take advantage of an increasing set of more attractive opportunities in light of the current macro and geopolitical headwinds,” ESR Chairman Jeffrey Perlman, said in a statement.
“ESR Group is well-positioned to have a record capital recycling year as we further position ourselves to take advantage of what is likely to become a very compelling investing environment,” Jeffrey Shen and Stuart Gibson, co-founders and co-CEOs of ESR said.
Keywords: ARA Asset Management. E-Shang Redwood Group.