Link REIT Eyes More Acquisitions in China’s First-Tier Cities

Link REIT Investment Trust, Asia’s largest property trust by market value, is seeking acquisitions in Chinese cities including Beijing and Shanghai, Chief Executive Officer George Hongchoy said.

The trust is looking for mid-market shopping malls and premium commercial properties in the nation’s first-tier cities, which also include Shenzhen and Guangzhou, Hongchoy said from Hong Kong last week. Mixed-use properties are also on Link’s radar, he said.

In March, Hong Kong-based Link agreed to pay 2.5 billion yuan ($403 million) for its first acquisition on the mainland, the EC Mall in Beijing. While the trust’s foray into China and its property developments in Hong Kong have boosted debt levels, Hongchoy said the expansion is “prudent.”

“We prefer assets with steady cash flow, either developed or very close to completion,” he said.

— With assistance by Emma Dong

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