Jones Lang LaSalle Inc. has picked China Resources Mixc Lifestyle Services Ltd. as the preferred bidder for its China real estate management unit, people familiar with the matter said.
The property management arm of state-owned China Resources Group is poised to trump rivals including Sunac Services Holdings Ltd. and China Vanke Co., said the people, who asked not to be identified as the information is private. The Chicago-based real estate services provider is seeking more than $500 million from a divestment of the unit, Bloomberg News has reported.
